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S.1250 - Algae-based Renewable Fuel Promotion Act of 2009

A bill to amend the Internal Revenue Code of 1986 to expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer credit and the special allowance for cellulosic biofuel plant property. view all titles (2)

All Bill Titles

  • Short: Algae-based Renewable Fuel Promotion Act of 2009 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer credit and the special allowance for cellulosic biofuel plant property. as introduced.

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06/11/09
 
 
 
 
 
 
 

Official Summary

Algae-based Renewable Fuel Promotion Act of 2009 - Amends the Internal Revenue Code to: (1) expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer tax credit; and (2) allow accelerated depreciation of property used to produ

Official Summary

Algae-based Renewable Fuel Promotion Act of 2009 - Amends the Internal Revenue Code to:
(1) expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer tax credit; and
(2) allow accelerated depreciation of property used to produce algae-based biofuel. Defines \"algae-based biofuel\" as any liquid fuel which is produced from the biomass of an algal organism (i.e., an organism that is primarily aquatic and classified as a non-vascular plant).

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