This bill extends federal tax credits for biodiesel and renewable diesel fuels by two years, pushing the expiration dates from the end of 2024 to the end of 2026. The legislation maintains existing tax incentives for biodiesel producers and blenders who mix biodiesel into conventional fuel, as well as producers of second-generation biofuels made from waste materials. To prevent double-dipping, the bill includes provisions that prohibit companies from claiming both the biodiesel tax credits and a separate clean fuel production credit for the same fuel. The bill takes effect for fuel sold or used after December 31, 2024, and covers both biodiesel used in taxable operations and biodiesel used for other purposes, supporting the renewable fuel industry during a critical period.
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