Developed by: Inflation Reduction Act
Federal Agency: Department of the Treasury
Income Tax Credit and Excise Tax Credit
Description: To provide tax credits for biodiesel and renewable diesel.
Recipients: Producers of biodiesel, biodiesel mixtures, and renewable diesel.
Timing: Extended from 12/31/2022 through 12/31/2024.
Amount:
- Base Credit Amount: $1.00 per gallon for biodiesel, biodiesel mixtures, and renewable diesel. Additional $0.10 credit for small agri-diesel producers. In addition, there is a $1.00-per-gallon excise tax credit for biodiesel and renewable diesel mixtures.
- Bonus Credit Amount: N/A
More information: Alternative Fuels Data Center
