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- Tax Credit
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:
Clean fuel producers
Tribal Eligibility:
No
Bureau/Office
Funded by:
U.S. Department of Treasury
Description
To provide an income tax credit for second-generation biofuelproduction. Registered producers of second-generation biofuels
Direct Pay Eligibility:
No
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