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Sustainable Vessel Fuel Act

USA119th CongressS-692| Senate 
| Updated: 2/24/2025
Mazie K. Hirono

Mazie K. Hirono

Democratic Senator

Hawaii

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
The Sustainable Vessel Fuel Act amends the Internal Revenue Code of 1986 to expand the clean fuel production credit , specifically introducing a special rate for sustainable vessel fuel . This legislation aims to incentivize the production and use of environmentally friendly fuels for the maritime sector. The bill defines "sustainable vessel fuel" as a liquid fuel suitable for commercial vessels or ferries that is not derived from palm fatty acid distillates or petroleum and has an emissions rate of zero . It also requires the fuel to meet specific standards identified by the Secretary, such as those established by the American Society for Testing and Materials. Furthermore, the credit for sustainable vessel fuel would be available for a longer period, extending until December 31, 2035 , compared to the general clean fuel credit termination date of December 31, 2027.
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Timeline

Bill from Previous Congress

S 118-3002
Sustainable Vessel Fuel Act
Feb 24, 2025
Introduced in Senate
Feb 24, 2025
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 118-3002
    Sustainable Vessel Fuel Act


  • February 24, 2025
    Introduced in Senate


  • February 24, 2025
    Read twice and referred to the Committee on Finance.

Taxation

Sustainable Vessel Fuel Act

USA119th CongressS-692| Senate 
| Updated: 2/24/2025
The Sustainable Vessel Fuel Act amends the Internal Revenue Code of 1986 to expand the clean fuel production credit , specifically introducing a special rate for sustainable vessel fuel . This legislation aims to incentivize the production and use of environmentally friendly fuels for the maritime sector. The bill defines "sustainable vessel fuel" as a liquid fuel suitable for commercial vessels or ferries that is not derived from palm fatty acid distillates or petroleum and has an emissions rate of zero . It also requires the fuel to meet specific standards identified by the Secretary, such as those established by the American Society for Testing and Materials. Furthermore, the credit for sustainable vessel fuel would be available for a longer period, extending until December 31, 2035 , compared to the general clean fuel credit termination date of December 31, 2027.
View Full Text

Suggested Questions

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

Timeline

Bill from Previous Congress

S 118-3002
Sustainable Vessel Fuel Act
Feb 24, 2025
Introduced in Senate
Feb 24, 2025
Read twice and referred to the Committee on Finance.
  • Bill from Previous Congress

    S 118-3002
    Sustainable Vessel Fuel Act


  • February 24, 2025
    Introduced in Senate


  • February 24, 2025
    Read twice and referred to the Committee on Finance.
Mazie K. Hirono

Mazie K. Hirono

Democratic Senator

Hawaii

Finance Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted