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Renewable Chemicals Act of 2020

USA116th CongressHR-8879| House 
| Updated: 12/4/2020
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (1)
Brian K. Fitzpatrick (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Renewable Chemicals Act of 2020 This bill allows a new tax credit for the production of renewable chemicals. Specifically, it allows a credit for up to 15% of the sales price of each pound of a renewable chemical. A renewable chemical is any chemical that is produced in the United States from renewable biomass and is not less than 95% biobased content. The bill also allows a 30% tax credit for investment in renewable chemical production facilities.
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Timeline
Dec 4, 2020
Introduced in House
Dec 4, 2020
Referred to the House Committee on Ways and Means.
  • December 4, 2020
    Introduced in House


  • December 4, 2020
    Referred to the House Committee on Ways and Means.

Taxation

Alternative and renewable resourcesIncome tax creditsIndustrial facilitiesManufacturingMaterials

Renewable Chemicals Act of 2020

USA116th CongressHR-8879| House 
| Updated: 12/4/2020
Renewable Chemicals Act of 2020 This bill allows a new tax credit for the production of renewable chemicals. Specifically, it allows a credit for up to 15% of the sales price of each pound of a renewable chemical. A renewable chemical is any chemical that is produced in the United States from renewable biomass and is not less than 95% biobased content. The bill also allows a 30% tax credit for investment in renewable chemical production facilities.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 4, 2020
Introduced in House
Dec 4, 2020
Referred to the House Committee on Ways and Means.
  • December 4, 2020
    Introduced in House


  • December 4, 2020
    Referred to the House Committee on Ways and Means.
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (1)
Brian K. Fitzpatrick (Republican)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Alternative and renewable resourcesIncome tax creditsIndustrial facilitiesManufacturingMaterials