April 28, 2026
Mrs. Blackburn introduced the following bill; which was read twice and referred to the Committee on Finance
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) Extension of biodiesel mixture credit and biodiesel credit
Section 40A(g) of the Internal Revenue Code of 1986 is amended—
(A)
by striking shall not apply to any sale or use after December 31, 2024 (or, in the case
and inserting
shall not apply to—
(2)
in the case, and
(B)
by striking ).
at the end and inserting
, or
(2)
in any other case, any sale or use—
(A)
after December 31, 2024, and before the date of the enactment of the Supporting Energy and Economic Development (SEED) Act, or
(B)
after December 31, 2029.
(2) Denial of double benefit
(A) In general
Section 40A(c) of such Code is amended—
(i)
by striking The amount
and inserting the following:
(1) Excise tax credit
The amount, and
(ii)
by adding at the end the following:
(2) Clean fuel production credit
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 the Internal Revenue Code of 1986 is amended by striking for any period after December 31, 2024.
and inserting
for any period—
(A)
after December 31, 2024, and before the date of the enactment of the Supporting Energy and Economic Development (SEED) Act , or
(B)
after the December 31, 2029.
(B) Denial of double benefit
Section 45Z(f) of such Code is amended by adding at the end the following new paragraph:
(9) Coordination with excise tax credit for biodiesel mixtures
No credit shall be allowed under this section for any fuel if a credit is allowed with respect to such fuel by reason of the application of section 6426(c) or 6427(e).
(2) Payments for fuels not used for taxable purposes
Section 6427(e)(6)(B) of such Code is amended by striking sold or used after December 31, 2024,
and inserting
sold or used—
(i)
after December 31, 2024, and before the date of the enactment of the Supporting Energy and Economic Development (SEED) Act , or
(ii)
after the December 31, 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.