Bill116th CongressFiled Dec 4, 2020Taxation
H.R. 8879
Renewable Chemicals Act of 2020
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Dec 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.
What just happenedDec 4, 2020
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Pascrell, Bill, Jr. [D-NJ-9](D-NJ)Sponsor
1 cosponsor1 R
1cosponsors1committees3actions5subjects
- Introduced in HouseDec 4, 2020
- Dec 4, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Dec 4, 2020IntroReferralIntro-H
Introduced in House
- Dec 4, 2020IntroReferral1000
Introduced in House