Section 1. Short title
This Act may be cited as the Biodiesel Tax Credit Extension Act of 2024.
(1) In general
Section 40A(g) of the Internal Revenue Code of 1986 is amended by striking 2024 and inserting 2025.
(2) Denial of double benefit
Section 40A of such Code is amended—
(A) by redesignating subsection (g) (as amended) as subsection (h), and
(B) by inserting after subsection (f) the following new subsection:
(g) Denial of Double Benefit
In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the amount determined under this section with respect to such fuel shall be zero.
(A) In general
Section 6426(c)(6) of such Code is amended by striking 2024 and inserting 2025.
(B) Denial of double benefit
Section 6426(c) of such code is amended by adding at the end the following new paragraph:
(7) Denial of double benefit
In the case of any fuel with respect to which a credit is allowed under section 45Z(a) for any taxable year, the applicable amount determined under this paragraph (2) with respect to such fuel shall be zero.
(2) Extension of credit for fuels not used for taxable purposes
Section 6427(e)(6)(B) of such Code is amended by striking 2024 and inserting 2025.
(c) Effective date
The amendments made by this section shall apply to fuel sold or used after December 31, 2024.