To amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers. The main policy domain is Energy, Agriculture, Finance.
Who Benefits and How
energy producers, utilities, and energy consumers may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies, energy producers, utilities, and energy consumers may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H723D072CC709449C8436E575A482E4EA: 1. Short title This Act may be cited as the Renewable Chemicals Act of 2023.
- Section H697E37E21F80478B9D9DE69B40DC5A69: 2. Credits for production of renewable chemicals and investments in renewable chemical production facilities Subpart D of part IV of subchapter A of chapter 1...
- Section H1BB1251001F44F89AE00B8AD585A8B6B: 45BB. Credit for production of renewable chemicals For purposes of section 38, the production credit for renewable chemicals for any taxable year is an amount...
- Section H2D0D013690EA438C8427D71566434D93: 48F. Investment credit for renewable chemical production facilities For purposes of section 46, the renewable chemical production facilities credit for any...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Key Policy Areas
Energy, Agriculture, Finance
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities, and for other purposes., changes federal law or congressional policy affecting energy producers, utilities, and energy consumers.
Policy Domains
Whole bill
Identified Gains
- energy producers, utilities, and energy consumers
Identified Costs
- federal implementing agencies
- energy producers, utilities, and energy consumers
Sponsors
Legislative Progress
IntroducedMr. Pascrell (for himself and Mr. Fitzpatrick) introduced the following …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_agriculture"
- → Secretary of Agriculture
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology