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Renewable Chemicals Act of 2021

USA117th CongressHR-2532| House 
| Updated: 4/14/2021
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (2)
Dean Phillips (Democratic)Brian K. Fitzpatrick (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Renewable Chemicals Act of 2021 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

Bill from Previous Congress

HR 116-8879
Renewable Chemicals Act of 2020
Apr 14, 2021
Introduced in House
Apr 14, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-8879
    Renewable Chemicals Act of 2020


  • April 14, 2021
    Introduced in House


  • April 14, 2021
    Referred to the House Committee on Ways and Means.

Taxation

Alternative and renewable resourcesIncome tax creditsIndustrial facilitiesManufacturingMaterials

Renewable Chemicals Act of 2021

USA117th CongressHR-2532| House 
| Updated: 4/14/2021
Renewable Chemicals Act of 2021 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

Bill from Previous Congress

HR 116-8879
Renewable Chemicals Act of 2020
Apr 14, 2021
Introduced in House
Apr 14, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-8879
    Renewable Chemicals Act of 2020


  • April 14, 2021
    Introduced in House


  • April 14, 2021
    Referred to the House Committee on Ways and Means.
Bill Pascrell

Bill Pascrell

Democratic Representative

New Jersey

Cosponsors (2)
Dean Phillips (Democratic)Brian K. Fitzpatrick (Republican)

Ways and Means Committee

Taxation

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