What is the official ID of this bill?
The official print number for this legislation is HR 4576.
Biofuel Credit Sales Fund Conservation and Farmer Crop Diversification.
This law establishes a system for selling low-cost renewable fuel credits to fuel companies, helping them meet environmental mandates and potentially stabilizing fuel costs. Revenue generated from these sales is split three ways: funding advanced biofuel development, providing financial aid to farmers for alternative crops, and establishing a fund for wildlife habitat restoration. Citizens benefit from investments in environmental protection and potentially more stable fuel prices.
Key points
Fuel companies can buy conventional biofuel credits at a low price (max $0.20 per credit) to meet renewable fuel obligations.
One-third of the revenue supports farmers financially and technically to invest in alternative and diversified cropping systems.
A new Habitat and Wildlife Restoration Fund is created to protect areas (like grasslands and wetlands) impacted by corn and soy expansion since 2007.
Status:
Expired
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