Bipartisan legislation recently introduced in the U.S. House of Representatives would provide a tax credit for renewable natural gas.
H.R. 9396, the Renewable Natural Gas Incentive Act, would create a $1 per gallon tax credit for sellers of renewable natural gas used for transportation. The credit would be valid for 10 years.
Renewable natural gas can be used in heavy-duty vehicles to reduce greenhouse gas and particulate emissions. The goal of the bill is to allow businesses to reduce their emissions while investing in zero-emission vehicle infrastructure.
Current tax code provides a credit of 50 cents for natural gas used in transportation, including natural gas from renewable sources. The renewable biodiesel tax credit is $1 a gallon tax credit, expiring at the end of 2024. The bill puts the natural gas credit on par with the biodiesel credit.
“Renewable natural gas (RNG) provides economical and clean energy that can offer carbon-negative fuel for some of our nation’s largest supply chain vehicles,” U.S. Rep. Brian Fitzpatrick (R-PA), who co-introduced the bill, said. “Providing businesses with tax credits for RNG will boost our economy and safeguard our environment.”
U.S. Rep. Linda T. Sánchez (D-CA) co-introduced the bill. Companion legislation was introduced in the Senate in July.
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