Page:United States Statutes at Large Volume 118.djvu/1493
118 STAT. 1463 PUBLIC LAW 108–357—OCT. 22, 2004 (B) by striking the comma at the end of subparagraph (D)(iii) and inserting a period, and (C) by striking subparagraphs (E) and (F). (13) Section 9503(c)(2)(A) is amended by adding at the end the following: ‘‘Clauses (i)(III) and (ii) shall not apply to claims under section 6427(e).’’. (14) The table of sections for subchapter B of chapter 65 is amended by inserting after the item relating to section 6425 the following new item: ‘‘Sec. 6426. Credit for alcohol fuel and biodiesel mixtures.’’. (d) EFFECTIVE DATES.— (1) IN GENERAL.—Except as otherwise provided in this sub section, the amendments made by this section shall apply to fuel sold or used after December 31, 2004. (2) REGISTRATION REQUIREMENT.—The amendment made by subsection (b) shall take effect on April 1, 2005. (3) EXTENSION OF ALCOHOL FUELS CREDIT.—The amend ments made by paragraphs (3), (4), and (14) of subsection (c) shall take effect on the date of the enactment of this Act. (4) REPEAL OF GENERAL FUND RETENTION OF CERTAIN ALCOHOL FUELS TAXES.—The amendments made by subsection (c)(12) shall apply to fuel sold or used after September 30, 2004. (e) FORMAT FOR FILING.—The Secretary of the Treasury shall describe the electronic format for filing claims described in section 6427(i)(3)(B) of the Internal Revenue Code of 1986 (as amended by subsection (c)(10)(C)) not later than December 31, 2004. SEC. 302. BIODIESEL INCOME TAX CREDIT. (a) IN GENERAL.—Subpart D of part IV of subchapter A of chapter 1 (relating to business related credits) is amended by inserting after section 40 the following new section: ‘‘SEC. 40A. BIODIESEL USED AS FUEL. ‘‘(a) GENERAL RULE.—For purposes of section 38, the biodiesel fuels credit determined under this section for the taxable year is an amount equal to the sum of— ‘‘(1) the biodiesel mixture credit, plus ‘‘(2) the biodiesel credit. ‘‘(b) DEFINITION OF BIODIESEL MIXTURE CREDIT AND BIODIESEL CREDIT.—For purposes of this section— ‘‘(1) BIODIESEL MIXTURE CREDIT.— ‘‘(A) IN GENERAL.—The biodiesel mixture credit of any taxpayer for any taxable year is 50 cents for each gallon of biodiesel used by the taxpayer in the production of a qualified biodiesel mixture. ‘‘(B) QUALIFIED BIODIESEL MIXTURE.—The term ‘quali fied biodiesel mixture’ means a mixture of biodiesel and diesel fuel (as defined in section 4083(a)(3)), determined without regard to any use of kerosene, which— ‘‘(i) is sold by the taxpayer producing such mixture to any person for use as a fuel, or ‘‘(ii) is used as a fuel by the taxpayer producing such mixture. ‘‘(C) SALE OR USE MUST BE IN TRADE OR BUSINESS, ETC.—Biodiesel used in the production of a qualified bio diesel mixture shall be taken into account— Deadline. 26 USC 6427 note. Applicability. 26 USC 40 note.