The Renewable Chemicals Act of 2026 provides tax credits for the production and investment in renewable chemicals and facilities. The bill aims to incentivize the domestic production of renewable chemicals derived from renewable biomass, with not less than 95 percent biobased content. The production credit for renewable chemicals is set at 15 percent of the sales price of each pound, while the investment credit for renewable chemical production facilities is at 30 percent of the eligible property's basis. The bill includes limitations and criteria for credit allocation, allowing the Secretary to allocate up to $500,000,000 in credits. The Act applies to renewable chemicals produced and facilities placed in service after its enactment, for taxable years ending after such date.