"Fiscal cliff" deal would extend cellulosic, algal tax credits

01/2/2013 | BiofuelsDigest.com

The "fiscal cliff" deal passed by Congress includes tax-credit extensions for cellulosic biofuels as well as biodiesel and renewable diesel. The deal, which is expected to be signed by President Barack Obama, extends by one year the cellulosic producer tax credit and expands it to algae-based fuel. The cellulosic bonus depreciation, which allows biofuel companies to expense up to half of their eligible capital costs in their first year, was also given a one-year extension.

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