House Bill 2532
117th Congress(2021-2022)
Renewable Chemicals Act of 2021
Introduced
Introduced in House on Apr 14, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2532
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
Renewable Chemicals Act of 2021
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.
April 14, 2021
04/14/2021
Referred to the House Committee on Ways and Means.
04/14/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:48:47 PM