To amend the Internal Revenue Code of 1986 to promote the increased use of renewable natural gas, to reduce greenhouse gas emissions and other harmful transportation-related emissions that contribute to poor air quality, and to increase job creation and economic opportunity throughout the United States.
About This Bill
Committee
Latest Action · May 22, 2024
Read twice and referred to the Committee on Finance.
The Renewable Natural Gas Incentive Act of 2024 would create a federal tax credit of $1.00 per gallon for renewable natural gas used as fuel in vehicles, boats, and aircraft. Renewable natural gas, produced from biomass materials like agricultural waste and landfill gas, would qualify for the credit if it meets production and certification requirements. The bill would affect fuel producers, blenders, and users across the transportation sector by providing financial incentives to increase adoption of this cleaner fuel alternative. The tax credit would expire on December 31, 2033, giving the industry a ten-year window to develop the market. The legislation aims to reduce greenhouse gas emissions and air pollution while supporting job creation in renewable energy production and fuel infrastructure.
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