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House Bill 1189


House Bill 1189

ARCHIVE (2009)

Latest Information

 

DIGEST OF INTRODUCED BILL


Biofuel production tax credits. Provides that the biodiesel and ethanol production tax credits must be allocated to the partners, shareholders, or members of a pass through entity in a manner that is consistent with applicable provisions of the Internal Revenue Code. (Current law specifies that the allocation must be made according to the distributive share of income to which the partner, shareholder, or member is entitled.) Provides that a taxpayer may sell, assign, convey, or otherwise transfer a biodiesel production tax credit or an ethanol production tax credit. (Current law prohibits the sale, assignment, conveyance, or transfer of the tax credits.)
Current Status:
 In Committee - first House
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