House approves Energy Tax Bill

as reported by National Biodiesel Board

On Wednesday, February 27, 2008, the House passed H.R. 5351, the Renewable Energy and Energy Conservation Tax Act of 2008, by a 236 to 182 margin. Among its provisions, the bill:

• Extends the biodiesel tax incentive for 2 years through December 31, 2010.


• Properly classifies the tax treatment of co-processed renewable diesel.


• Retroactively denies the biodiesel tax incentive on "splash and dash" transactions.


• Limits the biodiesel tax credit to fuels produced in the U.S. for use in the U.S.

The fate of H.R. 5351 in the Senate remains uncertain. In addition, the Administration has signaled opposition to the measure based on provisions in the bill unrelated to biodiesel. Read the Administration’s SAP on H.R. 5351.

You may also read these documents relevant to NBB's interest in H.R. 5351:

NBB CEO Joe Jobe’s letter to U.S. Representative Charles Rangel (D-NY), the Chairman of the U.S. House Committee on Ways and Means, regarding H.R. 5351.

Joint Committee on Taxation’s (JCT) description of H.R. 5351

JCT’s revenue estimate for the bill.