,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #hacg  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #bg1 #bjbf,mrs4  
,fis*ba* 7= h]self & ,ms4 ,budz9ski7    
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to e/abli% tax cr$its = ! 
production (1 & inve/m5t 91 c]ta9       
r5ewable mat]ials4  #a4 ,cr$it =        
r5ewable mat]ials production  7a7 ,9    
g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a
 ( *apt] #a ( ! ,int]nal ,rev5ue ,code (
 #aihf is am5d$ by add+ at ! end !      
foll[+ new section3  #de;,,bb4 ,r5ewable
 mat]ials production cr$it  7a7         
,all[ance ( cr$it ,= purposes ( section 
#ch1 ! r5ewable mat]ials production     
cr$it = any taxable ye> is an am\nt     
equal to ! product (--  7#a7 #aj c5ts1  
multipli$ by  7#b7 ! numb] ( p\nds (    
qualifi$ r5ewable mat]ial :i* is--  7,a7
 produc$ by ! taxpay] dur+ su* taxable  
ye> at a r5ewable mat]ial production    
facility1 &  7,b7 ei!r--  7i7 sold by ! 

taxpay] to an unrelat$ p]son1 or  7ii7  
us$ by ! taxpay] produc+ su* qualifi$   
r5ewable mat]ial1  only if su* sale or  
use is 9 a trade or bus9ess ( ! taxpay] 
dur+ ! taxable ye>4  7b7 ,def9itions ,= 
purposes ( ?is section-- 7#a7 ,qualifi$ 
r5ewable mat]ial  7,a7 ,9 g5]al ,! t]m  
qualifi$ r5ewable mat]ial means !       
biobas$ c>bon cont5t portion ( any      
product1 includ+ a *emical1 produc$ us+ 
biological conv]sion1 !rmal conv]sion1  
catalytic conv]sion1 *emical conv]sion1 
or a comb9ation !re(1 f biomass4  7,b7  
,exclusions ,! t]m qualifi$ r5ewable    
mat]ial %all n include any product-- 7i7
 :i* is suitable = use z a fuel 9 any   
vehicle 7:e!r or n ! vehicle is         
manufactur$ prim>ily = use on public    
/reets1 roads1 & highways71 m>9e vessel1
 wat]craft1 or aircraft1  7ii7 us$ to   
g5]ate heat or electricity1  7iii7 :i*  
is suitable = use z food or fe$1  7iv7  
produc$ f biomass :i* 0 n manufactur$1  
produc$1 gr[n1 or extract$ 9 :ole or 9  
significant "p )9-- 7,i7 ! ,unit$ ,/ates

 7)9 ! mean+ ( section #fch7a771 or     
7,,ii7 a possession ( ! ,unit$ ,/ates   
7)9 ! mean+ ( section #fch7b771 or  7v7 
:i* is d]iv$ f coprocess+ biomass ) a   
fe$/ock :i* is n biomass4  7,c7 ,fir/   
sale or use to qualify ,9 ! case :]e    
multiple po9ts 9 a supply *a9 may be    
eligible "u ?is section1 ! qualifi$     
r5ewable mat]ial t fir/ meets !         
requirem5ts ( ?is section w be ! only   
qualifi$ r5ewable mat]ial eligible4     
7#b7 ,biobas$ c>bon cont5t portion ,!   
t]m biobas$ c>bon cont5t portion means !
 biobas$ c>bon cont5t z det]m9$ pursuant
 to ,,a/m ,d#fhff4  7#c7 ,biomass ,! t]m
 biomass has ! same mean+ giv5 su* t]m 9
 section #de,k7c77#c71 except biomass   
does n include any qualifi$ r5ewable    
mat]ial4  7#d7 ,r5ewable mat]ial        
production facility ,! t]m r5ewable     
mat]ial production facility means any   
facility--  7,a7 t produces qualifi$    
r5ewable mat]ial dur+ a qualify+ cr$it  
p]iod1 &  7,b7 locat$ 9 ! ,unit$ ,/ates 
or a possession ( ! ,unit$ ,/ates 7)9 ! 

mean+ ( section #fch7b774  7#e7         
,qualify+ cr$it p]iod  7,a7 ,9 g5]al ,! 
t]m qualify+ cr$it p]iod means ! #aj-ye>
 p]iod beg9n+ on ! lat] (-- 7i7 ! date !
 r5ewable mat]ial production facility 0 
orig9ally plac$ 9 s]vice1  7ii7 ! date !
 modifications describ$ 9 subp>agraph   
7,b7 7 plac$ 9 s]vice1 or  7iii7 ! date 
( enactm5t ( ?is section4  7,b7         
,modifications ,! modifications describ$
 9 ?is subp>agraph are sub/antial       
modifications to an exi/+ facility :i*  
all[ su* facility to produce qualifi$   
r5ewable mat]ial4  7c7 ,special rules   
7#a7 ,cr$it attributable to taxpay]     
7,a7 ,9 g5]al ,except z o!rwise provid$ 
9 subp>agraph 7,b7 or 9 any regulations 
prescrib$ by ! ,secret>y1 any cr$it "u  
?is section %all be attributable to !   
p]son t sells or uses ! qualifi$        
r5ewable mat]ial4  7,b7 ,election ,if ! 
p]son describ$ 9 subp>agraph 7,a7 makes 
an election "u ?is subp>agraph 9 su* "t 
& mann] z ! ,secret>y may prescribe by  
regulations1 ! cr$it "u ?is section--   

7i7 %all be all[able to ! p]son to :om !
 qualifi$ r5ewable mat]ial is sold1 &   
7ii7 %all n be all[able to ! p]son      
describ$ 9 subp>agraph 7,a74  7#b7      
,coord9ation ) inve/m5t cr$it ,! t]m    
r5ewable mat]ial production facility    
%all n include any facility = :i* a     
r5ewable mat]ials inve/m5t cr$it det]m9$
 "u section #dh;,f is all[$ "u section  
#ch = ! taxable ye> or any prior taxable
 ye>4  7#c7 ,cr$it r$uc$ = tax-exempt   
bonds ,rules simil> to ! rules ( section
 #de7;b77#c7 %all apply4  7#d7          
,limitation ,! am\nt ( ! cr$it det]m9$  
"u subsection 7a7 ) respect to any      
facility = any taxable ye> 7det]m9$ aft]
 ! application ( p>agraph 7#c77 %all n  
exce$ #aj1jjj1jjj4  4  7b7 ,coord9ation 
) clean fuel production cr$it ,section  
#de,z7d77#d77;,b7 is am5d$ by add+ at ! 
end ! foll[+3  7iv7 ,! r5ewable mat]ials
 production cr$it "u section #de;,,bb4  
4  7c7 ,cr$it made transf]able ,section 
#fdah7;f77#a7 is am5d$-- 7#a7 9         
subp>agraph 7,a7 by add+ at ! end !     

foll[+3  7xii7 ,! r5ewable mat]ials     
production cr$it det]m9$ "u section     
#de;,,bb4  1 &  7#b7 9 subp>agraph 7,b71
 by /rik+ or 7vii7 & ins]t+ 7vii71 or   
7xii74  7d7 ,cr$it made "p ( g5]al      
bus9ess cr$it ,subsection 7b7 ( section 
#ch ( su* ,code is am5d$ by /rik+ plus  
at ! end ( p>agraph 7#dj71 by /rik+ !   
p]iod at ! end ( p>agraph 7#da7 & ins]t+
 1 plus1 & by add+ at ! end ! foll[+ new
 p>agraph3  7#db7 ! r5ewable mat]ials   
production cr$it det]m9$ "u section     
#de;,,bb4  4  7e7 ,cl]ical am5dm5t ,!   
table ( sections = subp>t ,d ( "p ,,iv (
 sub*apt] ,a ( *apt] #a ( su* ,code is  
am5d$ by add+ at ! end ! foll[+3  ,sec4 
#de;,,bb4 ,r5ewable mat]ials production 
cr$it4  4  7f7 ,regulations ,!          
,secret>y1 9 consultation ) ! ,secret>y 
( ,agriculture1 %all e/abli% regulations
 or o!r guidance = implem5t+ ! cr$it    
e/abli%$ "u ?is section )9 #ahj days ( !
 date ( enactm5t4  7g7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to qualifi$ r5ewable mat]ial      

produc$ on or aft] ! date ( enactm5t4   
#b4 ,cr$it = r5ewable mat]ials inve/m5t 
7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv (     
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new section3  #dh;,f4 
,r5ewable mat]ials inve/m5t cr$it  7a7  
,all[ance ( cr$it ,= purposes ( section 
#df1 ! r5ewable mat]ials inve/m5t cr$it 
= any taxable ye> is an am\nt equal to  
#cj p]c5t ( ! qualifi$ inve/m5t = !     
taxable ye> ) respect to any qualifi$   
facility4  7b7 ,qualifi$ inve/m5t  7#a7 
,9 g5]al ,= purposes ( subsection 7a71 !
 qualifi$ inve/m5t = any taxable ye> )  
respect to any qualifi$ facility is !   
basis ( any qualifi$ prop]ty plac$ 9    
s]vice by ! taxpay] dur+ su* taxable ye>
 :i*--  7,a7 is us$ 9 ! production (    
qualifi$ r5ewable mat]ial1 &  7,b7 is "p
 ( a qualifi$ facility4  7#b7 ,qualifi$ 
prop]ty ,= purposes ( ?is section1 ! t]m
 qualifi$ prop]ty means prop]ty--  7,a7 
:i* is-- 7i7 tangible p]sonal prop]ty1  
or  7ii7 o!r tangible prop]ty 7n includ+

 a build+ or its /ructural compon5ts71 b
 only if su* prop]ty is us$ z an        
integral "p ( ! qualifi$ facility1  7,b7
 ) respect to :i* depreciation 7or      
amortization 9 lieu ( depreciation7 is  
all[able1  7,c7 :i* is con/ruct$1       
recon/ruct$1 erect$1 or acquir$ by !    
taxpay]1 &  7,d7 ! orig9al use ( :i*    
comm5ces ) ! taxpay]4  7#c7 ,qualifi$   
facility  7,a7 ,9 g5]al ,! t]m qualifi$ 
facility means a r5ewable mat]ial       
production facility )9 ! mean+ ( section
 #de;,,bb7b77#c74  7,b7 ,exclusion ,!   
t]m qualifi$ facility %all n include any
 facility = :i* a r5ewable mat]ials     
production cr$it det]m9$ "u section     
#de;,,bb is all[$ "u section #ch = !    
taxable ye> or any prior taxable ye>4   
7#d7 ,coord9ation ) rehabilitation cr$it
 ,! qualifi$ inve/m5t ) respect to any  
qualifi$ facility = any taxable ye> %all
 n include t portion ( ! basis ( any    
prop]ty :i* is attributable to qualifi$ 
rehabilitation exp5ditures 7z def9$ 9   
section #dg7;c77#b774  7c7 ,special     

rules  7#a7 ,c]ta9 progress exp5diture  
rules made applicable ,rules simil> to !
 rules ( subsections 7c77#d7 & 7d7 (    
section #df 7z 9 effect on ! day be=e ! 
date ( ! enactm5t ( ! ,rev5ue           
,reconciliation ,act ( #aiij7 %all apply
 = purposes ( subsection 7a74  7#b7     
,cr$it r$uc$ = tax-exempt bonds ,rules  
simil> to ! rules ( section #de7;b77#c7 
%all apply4  4  7b7 ,coord9ation ) clean
 fuel production cr$it ,section         
#de,z7d77#d77;,b71 z am5d$ by section   
#a1 is am5d$ by add+ at ! end ! foll[+3 
7v7 ,! cr$it det]m9$ "u section #df to !
 ext5t t su* cr$it is attributable to ! 
r5ewable mat]ials inve/m5t cr$it4  4    
7c7 ,cr$it made transf]able ,section    
#fdah1 z am5d$ by section #a1 is am5d$--
  7#a7 9 subsection 7f77#a77;,a7 by add+
 at ! end ! foll[+3  7xiii7 ,! r5ewable 
mat]ials inve/m5t cr$it det]m9$ "u      
section #dh;,f4  1 &  7#b7 9 p>agraph   
7g77#c7 by /rik+ 7xi7 & ins]t+ 7xi71 or 
7xiii714  7d7 ,con=m+ am5dm5ts  7#a7    
,section #df ( su* ,code is am5d$--     

7,a7 9 p>agraph 7#f7 by /rik+ & at !    
end1  7,b7 9 p>agraph 7#g7 by /rik+ !   
p]iod at ! end & ins]t+ 1 &1 &  7,c7 by 
add+ at ! end ! foll[+3  7#h7 ! r5ewable
 mat]ials inve/m5t cr$it4  4  7#b7      
,section #di7;a77#a77;,c7 ( su* ,code is
 am5d$-- 7,a7 by /rik+ & at ! end (     
clause 7vii71  7,b7 by /rik+ ! p]iod at 
! end ( clause 7viii7 & ins]t+ 1 &1 &   
7,c7 by add+ at ! end ! foll[+ new      
clause3  7ix7 ! basis ( any qualifi$    
prop]ty :i* is "p ( a qualifi$ facility 
"u section #dh;,f4  4  7#c7 ,section    
#ej7;a77#b77;,e7 ( su* ,code is am5d$ by
 /rik+ or #dh;,e7e7 & ins]t+ #dh;,e7e71 
or #dh;,f7c77#a74  7#d7 ,! table (      
sections = subp>t ,e ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( su* ,code is   
am5d$ by ins]t+ aft] ! item relat+ to   
section #dh;,e ! foll[+ new item3  ,sec4
 #dh;,f4 ,r5ewable mat]ials inve/m5t    
cr$it4  4  7e7 ,regulations ,!          
,secret>y1 9 consultation ) ! ,secret>y 
( ,agriculture1 %all e/abli% regulations
 or o!r guidance = implem5t+ ! cr$it    

e/abli%$ "u ?is section )9 #ahj days ( !
 date ( enactm5t4  7f7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to prop]ty plac$ 9 s]vice aft] !  
date ( enactm5t4