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HR 8497
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Supporting Energy and Economic Development (SEED) Act

To amend the Internal Revenue Code of 1986 to extend biodiesel and renewable diesel incentives, and for other purposes.

Introduced Apr 27, 2026

Latest action (Apr 27, 2026) Referred to the House Committee on Ways and Means.

Referred to
Ways and Means Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary
  • Extends federal tax incentives for biodiesel and renewable diesel producers and users through 2029, which were previously set to expire in 2024.
  • Extends the excise tax credit for biodiesel and renewable diesel fuels used for taxable purposes through 2029.
  • Extends payment provisions for biodiesel and renewable diesel not used for taxable purposes (such as for home heating) through 2029.
  • Prevents taxpayers from receiving multiple tax credits for the same fuel by denying incentives under this section if the fuel qualifies for credits under other renewable fuel provisions.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
16 cosponsors

Actions (2)
  1. Apr 27, 2026 Referred to the House Committee on Ways and Means. · house
  2. Apr 27, 2026 Introduced in House

Text versions (1)
  • Introduced in House · Apr 27, 2026

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

IN THE HOUSE OF REPRESENTATIVES

April 27, 2026

Mr. Carey (for himself, Mr. Correa, Mr. Kelly of Pennsylvania, Mr. Carbajal, Mr. LaHood, Mr. Costa, Ms. Tenney, Mrs. Miller-Meeks, Mr. Johnson of South Dakota, Mrs. Hinson, and Mr. Mann) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

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) In general.—Section 40A(g) of the Internal Revenue Code of 1986 is amended by striking “2024” and inserting “2029”.

(2) Denial of double benefit.—Section 40A of such Code is amended—

(A) by redesignating subsection (g) (as so amended) as subsection (h), and

(B) by inserting after subsection (f) the following new subsection:

“(g) Denial of Double Benefit.—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 such Code is amended by striking “2024” and inserting “2029”.

(B) Denial of double benefit.—Section 6426(c) of such Code is amended—

(i) by redesignating paragraph (6) (as so amended) as paragraph (7), and

(ii) by inserting after paragraph (5) the following new paragraph:

“(6) Denial of double benefit.—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 subsection with respect to such fuel shall be zero.”.

(2) Payments for fuels not used for taxable purposes.— Section 6427(e)(6)(B) of such Code is amended by striking “2024” and inserting “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. <all>

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