Page:United States Statutes at Large Volume 122.djvu/2299

 12 2 STA T . 22 76PUBLIC LA W 11 0– 2 4 6 —J U NE 1 8, 2008 byinsert in gaf ter s u b p aragrap h(C) the f ol lo w ing new subpara - graph

‘( D )C EL L U L OSICB IO F UEL PR O D UCER CREDI T.—I f— ‘‘(i) any c re d it is allowed under subsection (a)( 4 ) , and ‘‘(ii) any person does not use such fuel for a purpose described in subsection (b)( 6 )(C), then there is hereby i m posed on such person a ta x e q ual to the applicable amount (as defined in subsection (b)(6)( B )) for each gallon of such cellulosic biofuel. ’ ’. ( 2 )CO N FOR M IN GA MENDMENTS.— ( A ) S ubparagraph (C) of section 4 0 (d)( 3 ) is amended by stri k ing ‘‘ P RODUCER’’ in the heading and inserting ‘‘SMALL ET H ANOL PRODUCER’’. (B) Subparagraph ( E ) of section 40(d)(3), as redesig- nated by paragraph ( 1 ), is amended by striking ‘‘or (C)’’ and inserting ‘‘(C), or (D)’’. (d) BIOFUEL PRODUCED IN THE U NITED STATES.—Section 40(d) is amended by adding at the end the following new paragraph: ‘‘(6) SPECIAL RULE FOR CELLULOSIC BIOFUEL PRODUCER CREDIT.— N o cellulosic biofuel producer credit shall be deter- mined under subsection (a) with respect to any cellulosic biofuel unless such cellulosic biofuel is produced in the United States and used as a fuel in the United States. F or purposes of this subsection, the term ‘United States’ includes any possession of the United States.’’. (e) W AI V ER OF CREDIT L IMIT FOR CELLULOSIC BIOFUEL PRODUC- TION B Y SMALL ETHANOL PRODUCERS.—Section 40(b)(4)(C) is amended by inserting ‘‘(determined without regard to any qualified cellulosic biofuel production)’’ after ‘‘1 5 ,000,000 gallons’’. (f) DENIAL OF DOUBLE BENEFIT.— (1) BIODIESEL.—Paragraph (1) of section 40A(d) is amended by adding at the end the following new flush sentence: ‘‘Such term shall not include any liquid with respect to which a credit may be determined under section 40.’’. (2) R ENE W ABLE DIESEL.—Paragraph (3) of section 40A(f) is amended by adding at the end the following new flush sentence: ‘‘Such term shall not include any liquid with respect to which a credit may be determined under section 40.’’. (g) EFFECTIVE DATE.— T he amendments made by this section shall apply to fuel produced after December 31, 200 8 . SEC.1532 2.C OMPR E H E N S IV ES TUDY O FB IOFUE L S. (a) STUDY.—The Secretary of the Treasury, in consultation with the Secretary of Agriculture, the Secretary of Energy, and the Administrator of the En v ironmental Protection Agency, shall enter into an agreement with the National Academy of Sciences to produce an analysis of current scientific findings to determine— (1) current biofuels production, as well as pro j ections for future production, (2) the maximum amount of biofuels production capable in United States forests and farmlands, including the current quantities and character of the feedstocks and including such information as regional forest inventories that are commercially available, used in the production of biofuels, Contrac t s.26US C 40 not e . 26 USC 40.

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