Agency: Department of the Treasury

Agency: Department of the Treasury   Description: Tax credit for manufacturing components related to wind and solar, batteries, and minerals Bill Section: 13502 US Code: 26 USC 45X New or Existing: New Potential Cost:      $30,600,000,000 Timeline:      2023 – 2032 overall but different requirements in statute including phase-out Implementation Status/Rulemaking:    On October 24,…

Agency: Department of the Treasury   Description: Tax credit for carbon oxide captured and sequestered. Bill Section: 13104 US Code: 26 USC 45Q New or Existing: Existing Potential Cost:      $3,200,000,000 Timeline:      Through 2032 Implementation Status/Rulemaking:    On November 3, 2022, the Internal Revenue Service issued Notice 2022-57 to requested comments on the Credit…

Agency: Department of the Treasury   Description: Tax credit of $1/gallon for biomass-based diesel (biodiesel and renewable diesel) fuel, plus tax credit for alternative fuels Bill Section: 13201 US Code: 26 USC 40A New or Existing: Existing Potential Cost:      $5,600,000,000 Timeline:      Calendar years 2023-2024, with costs incurred in FY23-25 Implementation Status/Rulemaking:    On…

Agency: Department of the Treasury   Description: $1.01/gallon tax credit for production of cellulosic based biofuel. Bill Section: 13202 US Code: 26 USC 40 New or Existing: Existing Potential Cost:      $540,000,000 Timeline:      Calendar years 2022-2024 (2022 is retroactive). Cost projection is for FY23-25. TCS Notes: The cellulosic biofuel industry was intended to spur…

Agency: Department of the Treasury   Description: Tax credit for certain fueling equipment for 85% ethanol, natural gas, compressed or liquified natural gas, liquefied petroleum gas or hydrogen; 20% (or more) biodiesel; or electricity. Bill Section: 13404 US Code: 26 USC 30C New or Existing: Existing Potential Cost:      $1,700,000,000 Timeline:      2022 – 2032…

Agency: Department of the Treasury   Description: Credit for eligible projects, including but not limited to investments reequipping, expanding or establishing industrial or manufacturing facilities for production or recycling of certain renewable energy, renewable fuel (defined as low-carbon and low-emission), electric grid equipment, CCS, energy conservation and storage, energy efficiency, certain hybrid, fuel cell, and…