S5582-118

1. Short title This Act may be cited as the Biodiesel Tax Credit Extension Act of 2024.

2. Extension of biodiesel and renewable diesel credit and biodiesel mixture credit Section 40A(g) of the Internal Revenue Code of 1986 is amended by striking 2024 and inserting 2025. Section 40A of such Code is amended— by redesignating subsection (g) (as amended by paragraph (1)) as subsection (h), and by inserting after subsection (f) the following new subsection: In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this section with respect to such fuel shall be zero. Section 6426(c)(6) of the Internal Revenue Code of 1986 is amended by striking 2024 and inserting 2025. Section 6426(c) of such Code is amended by adding at the end the following new paragraph: In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the applicable amount determined under this paragraph (2) with respect to such fuel shall be zero. Section 6427(e)(6)(B) of such Code is amended by striking 2024 and inserting 2025. The amendments made by this section shall apply to fuel sold or used after December 31, 2024. (g)Denial of Double BenefitIn the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this section with respect to such fuel shall be zero.. (7)Denial of double benefitIn the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the applicable amount determined under this paragraph (2) with respect to such fuel shall be zero..