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HR 549

Bevington, Paula Lawton; condolences

2025-2026 Regular Session Introduced by Scott Holcomb and 5 co-sponsors

HR 549 repeals the clean fuel production tax credit, removing financial support for clean fuel producers and potentially raising costs and impacting jobs in the sector.

House Read and Adopted
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Bill Summary · HR 549

Summary of HR 549: Repeal of the Clean Fuel Production Credit

Bill Information:
- Bill Number: HR 549
- Title: To amend the Internal Revenue Code of 1986 to repeal the clean fuel production credit.
- Status: Introduced in House
- Introduced Date: January 16, 2025
- Classification: Bill

Purpose and Intent

The primary purpose of HR 549 is to repeal the clean fuel production credit, which is a tax incentive designed to encourage the production of clean fuels. This bill aims to eliminate the financial benefits currently provided to producers of clean fuels under the Internal Revenue Code of 1986.

Key Provisions

  • Repeal of Section 45Z:

    • The bill proposes to amend Part IV of subchapter A of chapter 1 of the Internal Revenue Code by striking section 45Z, which outlines the clean fuel production credit.
    • The repeal will remove the tax credit that incentivizes the production of clean fuels, effectively ending the federal support for this sector.

  • Effective Date:

    • The repeal will apply to taxable years beginning after December 31, 2024. This means that any clean fuel production credits will no longer be available for tax filings starting in the 2025 tax year.

Impact

  • Affected Parties:

    • Clean Fuel Producers: The repeal will directly impact companies and entities engaged in the production of clean fuels, as they will lose the financial incentive provided by the tax credit.
    • Environmental Policy: The removal of this credit may influence the broader landscape of environmental policy and renewable energy initiatives, potentially affecting investments in clean fuel technologies.

  • Economic Considerations:

    • The elimination of the clean fuel production credit may lead to increased production costs for clean fuel producers, which could affect pricing and market competitiveness.
    • It may also have implications for job creation in the clean fuel sector, depending on how companies adjust to the loss of the tax incentive.

Legislative Actions

  • Referred to Committee: On January 16, 2025, HR 549 was referred to the House Committee on Ways and Means for further consideration.

Conclusion

HR 549 seeks to repeal the clean fuel production credit, a move that could have significant implications for the clean fuel industry and environmental policy. As the bill progresses through the legislative process, stakeholders in the clean fuel sector and environmental advocates will be closely monitoring its developments.

Compiled from official sources — confirm details with the bill’s official record.

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