Political Quotes

“Madam Speaker, I move to suspend the rules and pass the bill (H.R. 4168) to amend the Internal Revenue Code of 1986 to expand the definition of cellulosic biofuel to include algae-based biofuel for purposes of the cellulosic biofuel producer credit and the special allowance for cellulosic biofuel plant property, as amended. The Clerk read the title of the bill. The text of the bill is as follows: H.R. 4168 Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Algae-based Renewable Fuel Promotion Act of 2010''. SEC. 2. ALGAE TREATED AS A QUALIFIED FEEDSTOCK FOR PURPOSES OF THE CELLULOSIC BIOFUEL PRODUCER CREDIT, ETC. (a) In General.--Subclause (I) of section 40(b)(6)(E)(i) of the Internal Revenue Code of 1986 is amended to read as follows: ``(I) is derived solely from qualified feedstocks, and''. (b) Qualified Feedstock; Special Rules for Algae.-- Paragraph (6) of section 40(b) of such Code is amended by redesignating subparagraphs (F), (G), and (H) as subparagraphs (H), (I), and (J), respectively, and by inserting after subparagraph (E) the following new subparagraphs: ``(F) Qualified feedstock.--For purposes of this paragraph, the term `qualified feedstock' means-- ``(i) any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis, and ``(ii) any cultivated algae, cyanobacteria, or lemna.…”