EXTENSION AND MODIFICATION OF SPECIAL ALLOWANCE FOR CELLULOSIC BIOFUEL PLANT PROPERTY.

SEC. 410. EXTENSION AND MODIFICATION OF SPECIAL ALLOWANCE FOR CELLULOSIC BIOFUEL PLANT PROPERTY. (a) Extension.— (1) In general.—Subparagraph (D) of section 168(l)(2) is amended by striking “January 1, 2013” and inserting “January 1, 2014”. (2) [26 U.S.C. 168 note] Effective date.—The amendment made by this subsection shall apply to property placed in service after December 31, 2012. (b) Algae Treated as a Qualified Feedstock for Purposes of Bonus Depreciation for Biofuel Plant Property.— (1) In general.—Subparagraph (A) of section 168(l)(2) is amended by striking “solely to produce cellulosic biofuel” and inserting “solely to produce second generation biofuel (as defined in section 40(b)(6)(E))”. (2) [26 U.S.C. 168] Conforming amendments.—Subsection (l) of section 168, as amended by subsection (a), is amended— (A) by striking “cellulosic biofuel” each place it appears in the text thereof and inserting “second generation biofuel”, (B) by striking paragraph (3) and redesignating paragraphs (4) through (8) as paragraphs (3) through (7), respectively, (C) by striking “Cellulosic” in the heading of such subsection and inserting “Second Generation”, and (D) by striking “cellulosic” in the heading of paragraph (2) and inserting “second generation”. (3) [26 U.S.C. 168 note] Effective date.—The amendments made by this subsection shall apply to property placed in service after the date of the enactment of this Act.