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Tax Credits and Bonds for Biogas and Manure Nutrient Recovery.

This act introduces new tax credits for businesses and public entities investing in technologies that convert biomass into biogas and recover nutrients from manure. The goal is to support environmentally friendly solutions in agriculture and energy, potentially reducing pollution and creating new energy sources. Citizens may indirectly benefit from a cleaner environment and potentially lower energy costs in the future.
Key points
Businesses and farmers investing in biogas and manure nutrient recovery systems can receive a 30% tax credit.
Special bonds (renewable energy bonds) up to $800 million are introduced to finance biogas and nutrient recovery projects, making it easier to raise capital for these investments.
The act mandates a study on biogas quality and methods to expand its production, potentially leading to further development and wider adoption of green technologies.
The aim is to convert agricultural waste into useful products like fuel and fertilizer, which is expected to save taxpayer money and benefit the environment.
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Additional Information
Print number: 117_HR_3939
Sponsor: Rep. Kind, Ron [D-WI-3]
Process start date: 2021-06-16