To amend the Internal Revenue Code of 1986 to extend the excise tax credits for certain liquid fuel derived from coal.
Summary
H.R. 5453 is a legislative proposal that would extend federal tax credits for the production of liquid fuels derived from coal through the year 2020. These credits apply to alternative fuels created using the Fischer-Tropsch process, a method that converts coal or peat into liquid energy sources like diesel or gasoline. For citizens, the bill aims to encourage domestic energy production and stabilize fuel supplies by providing financial incentives for companies to develop and sell coal-based alternatives to traditional petroleum.
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