Supporting Energy and Economic Development (SEED) Act

This bill would extend federal tax incentives for biodiesel and renewable diesel through 2029. It changes the end date from 2024 to 2029 for the income tax credit, the excise tax credit for fuels used for taxable purposes, and payments for fuels not used for taxable purposes. It also says that if a fuel already receives the clean fuel production credit under section 45Z for a tax year, the income tax credit and excise tax credit for that fuel would be zero. The changes would apply to fuel sold or used on or after the date the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Mike Carey Republican sponsor
• 17 cosponsors