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Renewable Chemicals Act of 2024

USA118th CongressS-4931| Senate 
| Updated: 8/1/2024
Sherrod Brown

Sherrod Brown

Democratic Senator

Ohio

Cosponsors (1)
Pete Ricketts (Republican)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Renewable Chemicals Act of 2024 This bill allows a new tax credit for the production of renewable chemicals. Specifically, it allows a credit for u p 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
Nov 30, 2023

Latest Companion Bill Action

HR 118-6532
Introduced in House
Aug 1, 2024
Introduced in Senate
Aug 1, 2024
Read twice and referred to the Committee on Finance.
  • November 30, 2023

    Latest Companion Bill Action

    HR 118-6532
    Introduced in House


  • August 1, 2024
    Introduced in Senate


  • August 1, 2024
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 118-6532: Renewable Chemicals Act of 2023

Renewable Chemicals Act of 2024

USA118th CongressS-4931| Senate 
| Updated: 8/1/2024
Renewable Chemicals Act of 2024 This bill allows a new tax credit for the production of renewable chemicals. Specifically, it allows a credit for u p 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
Nov 30, 2023

Latest Companion Bill Action

HR 118-6532
Introduced in House
Aug 1, 2024
Introduced in Senate
Aug 1, 2024
Read twice and referred to the Committee on Finance.
  • November 30, 2023

    Latest Companion Bill Action

    HR 118-6532
    Introduced in House


  • August 1, 2024
    Introduced in Senate


  • August 1, 2024
    Read twice and referred to the Committee on Finance.
Sherrod Brown

Sherrod Brown

Democratic Senator

Ohio

Cosponsors (1)
Pete Ricketts (Republican)

Finance Committee

Taxation

Related Bills

  • HR 118-6532: Renewable Chemicals Act of 2023
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted