Senate Passes Tax Extender Legislation

On December 16, 2014, the Senate followed the House of
Representatives and passed tax extender legislation that is expected to be
signed by the President. The final package that passed would retroactively
extend incentives that expired on December 31, 2013, through the end of 2014.
It does not extend the incentives through the end of 2015, as Senate Finance
Committee Chair Ron Wyden (D-OR) and other leaders would have liked.

The final tax extender package includes important incentives for
the biofuels industry, including the dollar-per-gallon biodiesel tax credit, as
well as the biofuel production tax credit for cellulosic and algae-based
biofuels and the special allowance for second generation biofuel plant
property.