H.R.2231 - Ethanol Modernization and Deficit Reduction Act

To amend the Internal Revenue Code of 1986 to terminate the ethanol tax credits, and for other purposes. view all titles (2)

All Bill Titles

  • Official: To amend the Internal Revenue Code of 1986 to terminate the ethanol tax credits, and for other purposes. as introduced.
  • Short: Ethanol Modernization and Deficit Reduction Act as introduced.

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Introduced
 
House
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Senate
Passes
 
President
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06/16/11
 
 
 
 
 
 
 

Official Summary

Ethanol Modernization and Deficit Reduction Act - Amends the Internal Revenue Code to advance the termination date of the income and excise tax credits for ethanol from December 31, 2011, to June 30, 2011; (2) extend the tax credit for alternative fuel vehicle refueling property expenditure

Official Summary

Ethanol Modernization and Deficit Reduction Act - Amends the Internal Revenue Code to advance the termination date of the income and excise tax credits for ethanol from December 31, 2011, to June 30, 2011;
(2) extend the tax credit for alternative fuel vehicle refueling property expenditures and the cellulosic biofuel producer tax credit;
(3) extend the bonus depreciation allowance for cellulosic biofuel plant property; and
(4) revise the definition of cellulosic biofuel for purposes of the cellulosic biofuel producer tax credit. Exempts the budgetary effects of this Act from PAYGO scorecard requirements under the Statutory Pay-As-You-Go Act of 2010.

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