HR8497Referred to Committee

Supporting Energy and Economic Development (SEED) Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-04-27
Introduced
16
Cosponsors
HR
ⓘ
Type

Sponsor

Mike Carey
Mike Carey
Republican · OH · Representative
Votes with party: 97.0% (601 recorded votes)

Full profile: /officials/C001126

Source: Congress.gov · FEC

Cosponsors (16)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Ways and Means.

2026-04-27

Source: Congress.gov

Committee Activity

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Plain-English Summary

The proposal would extend tax credits and incentives for biodiesel and renewable diesel fuel production, helping make these cleaner fuel alternatives more affordable and competitive with traditional petroleum diesel. This would benefit fuel producers, refineries, and potentially consumers by encouraging the use of fuels made from renewable sources like vegetable oils and animal fats instead of fossil fuels.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Taxation

Full Bill Text

Verbatim text published on Congress.gov via GovInfo. Use Cmd+F / Ctrl+F to search within this excerpt.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 8497 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 8497 To amend the Internal Revenue Code of 1986 to extend biodiesel and renewable diesel incentives, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 27, 2026 Mr. Carey (for himself, Mr. Correa, Mr. Kelly of Pennsylvania, Mr. Carbajal, Mr. LaHood, Mr. Costa, Ms. Tenney, Mrs. Miller-Meeks, Mr. Johnson of South Dakota, Mrs. Hinson, and Mr. Mann) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to extend biodiesel and renewable diesel incentives, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Supporting Energy and Economic Development (SEED) Act''. SEC. 2. EXTENSION OF BIODIESEL AND RENEWABLE DIESEL INCENTIVES. (a) Income Tax Credit.-- (1) In general.--Section 40A(g) of the Internal Revenue Code of 1986 is amended by striking ``2024'' and inserting ``2029''. (2) Denial of double benefit.--Section 40A of such Code is amended-- (A) by redesignating subsection (g) (as so amended) as subsection (h), and (B) by inserting after subsection (f) the following new subsection: ``(g) Denial of Double Benefit.--In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this section with respect to such fuel shall be zero.''. (b) Excise Tax Incentives.-- (1) Credit for fuels used for taxable purposes.-- (A) In general.--Section 6426(c)(6) of such Code is amended by striking ``2024'' and inserting ``2029''. (B) Denial of double benefit.--Section 6426(c) of such Code is amended-- (i) by redesignating paragraph (6) (as so amended) as paragraph (7), and (ii) by inserting after paragraph (5) the following new paragraph: ``(6) Denial of double benefit.--In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this subsection with respect to such fuel shall be zero.''. (2) Payments for fuels not used for taxable purposes.-- Section 6427(e)(6)(B) of such Code is amended by striking ``2024'' and inserting ``2029''. (c) Effective Date.--The amendments made by this section shall apply to fuel sold or used on or after the date of the enactment of this Act. <all>
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