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26 U.S. Code § 40

IRA Statuatory Location:

13202

Tax Code Location:

26 U.S. Code § 40

New or Modified Provision:

Extended from 12/31/2021 through 12/31/2024

Eligible Recipients:

Registered producers of second-generation biofuels

Tribal Eligibility:

No

Funded by:

U.S. Department of Treasury

Description

To provide an income tax credit for second-generation biofuel production.
Direct Pay Eligibility:
N/A
Transferability:
No
Stackability:
Fuel eligible for the section 40 credit is not eligible for the credits under section 40A/6426.
Energy Community Bonus:
No

Relevant Announcements

N/A

Related Resources

Additional information is available on the Resources page.

Key Details

Period of Availability
Through 12/31/24
Tax Mechanism:
Income tax credit (general business credit, nonrefundable)
Base Credit Amount:
$1.01 per gallon
Bonus Credit Amount:
N/A
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