Renewable Energy from Agricultural Products (REAP) Act
Last action on Jun 6, 2001Referred to the Subcommittee on Technology and Procuremen...
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Summary
Renewable Energy from Agricultural Products (REAP) Act - Amends the Internal Revenue Code respecting the credit for electricity produced from certain renewable resources to: (1) extend the credit; (2) expand the scope of qualifying closed-loop facilities; (3) make qualifying biomass (other than closed-loop biomass) and biomass facilities eligible for the credit; and (4) include electricity produced from agricultural and animal waste within the credit.
Establishes a reduced excise tax rate for qualified biodiesel mixtures.
Amends the Food Security Act of 1985 to permit harvesting of switch grass on conservation reserve acreage for energy production purposes.
Requires Federal diesel vehicles to use biodiesel fuel unless cost-prohibitive.
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