Establishes tax credits for production and investment in certain renewable materials.
The bill amends the Internal Revenue Code to create tax credits for the production of, and investment in, certain renewable materials. It introduces a renewable materials production credit for facilities producing qualified renewable material and a renewable materials investment credit for investments in qualified facilities. The credits are applicable to facilities located in the United States or its possessions. The bill also includes provisions for the transferability of credits and coordination with other tax credits.
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