INCLUSION OF CELLULOSIC BIOFUEL IN BONUS DEPRECIATION FOR BIOMASS ETHANOL PLANT PROPERTY.

SEC. 201. INCLUSION OF CELLULOSIC BIOFUEL IN BONUS DEPRECIATION FOR BIOMASS ETHANOL PLANT PROPERTY.(a) In General.—Paragraph (3) of section 168(l) is amended to read as follows:“(3) Cellulosic biofuel.—The term ‘cellulosic biofuel’ means any liquid fuel which is produced from any lignocellulosic or hemicellulosic matter that is available on a renewable or recurring basis.”.(b) Conforming Amendments.—Subsection (l) of section 168 is amended—(1) by striking “cellulosic biomass ethanol” each place it appears and inserting “cellulosic biofuel”,(2) by striking “Cellulosic Biomass Ethanol” in the heading of such subsection and inserting “Cellulosic Biofuel”, and(3) by striking “cellulosic biomass ethanol” in the heading of paragraph (2) thereof and inserting “cellulosic biofuel”.(c) Effective Date.—The amendments made by this section shall apply to property placed in service after the date of the enactment of this Act, in taxable years ending after such date.