To amend the Internal Revenue Code of 1986 to provide investment and production credits for open- and closed-loop biomass facilities.
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Summary
Based on the bill's title, this legislation would amend the Internal Revenue Code to establish or expand investment and production tax credits for biomass energy facilities, including both open-loop systems (which use agricultural residues or forestry waste) and closed-loop systems (which grow biomass specifically for energy). The bill would use federal tax incentives to encourage development of biomass energy infrastructure. The full text was not available for review.
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