U.S. House of Representatives Extends Biodiesel Tax Credit One Year

The House approved the expansive $31 billion tax extenders package 241 to 181, which includes a one year extension for the biodiesel tax credit set to expire December 31, 2009. This will continue the biodiesel tax credit into 2010. However, the Senate must still act on the plan.

"While it remains to be seen when or if the Senate will take up this tax incentive provision, the NBB will continue to work with its memebership and Senators to ensure this important measure is passed and signed into law," said Michael C. Frohlich, Director of Communications for the National Biodiesl Board's Washington, D.C. office.

"In terms of the five-year tax extension that would also alter the credit from a production excise credit to a producers credit, it is clear that due to the legislative calendar and the priorities currenly facing Congress - healthcare being front and center - that legislation will not be voted on this year. Therefore, the NBB has decided to endorse the one year extension as to ensure that the tax credit does not expire, and will continue to work towards a multiyear producer tax credit in the future."