Bill117th CongressFiled Apr 14, 2021Taxation
H.R. 2532
Renewable Chemicals Act of 2021
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Apr 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.
What just happenedApr 14, 2021
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Pascrell, Bill, Jr. [D-NJ-9](D-NJ)Sponsor
2 cosponsors1 D1 R
2cosponsors1committees3actions5subjects
- Introduced in HouseApr 14, 2021
- Apr 14, 2021IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Apr 14, 2021IntroReferralIntro-H
Introduced in House
- Apr 14, 2021IntroReferral1000
Introduced in House