EXTENSION OF BIODIESEL AND RENEWABLE DIESEL INCENTIVES.

SEC. 40407. EXTENSION OF BIODIESEL AND RENEWABLE DIESEL INCENTIVES. (a) Income Tax Credit (1) In general Subsection (g) of section 40A is amended by striking “December 31, 2016” and inserting “December 31, 2017”. (2) [26 U.S.C. 40A note] Effective date The amendment made by this subsection shall apply to fuel sold or used after December 31, 2016. (b) Excise Tax Incentives (1) In general Section 6426(c)(6) is amended by striking “December 31, 2016” and inserting “December 31, 2017”. (2) Payments Section 6427(e)(6)(B) is amended by striking “December 31, 2016” and inserting “December 31, 2017”. (3) [26 U.S.C. 6426 note] Effective date The amendments made by this subsection shall apply to fuel sold or used after December 31, 2016. (4) [26 U.S.C. 6426 note] Special rule for 2017 Notwithstanding any other provision of law, in the case of any biodiesel mixture credit properly determined under section 6426(c) of the Internal Revenue Code of 1986 for the period beginning on January 1, 2017, and ending on December 31, 2017, such credit shall be allowed, and any refund or payment attributable to such credit (including any payment under section 6427(e) of such Code) shall be made, only in such manner as the Secretary of the Treasury (or the Secretary’s delegate) shall provide. Such Secretary shall issue guidance within 30 days after the date of the enactment of this Act providing for a one-time submission of claims covering periods described in the preceding sentence. Such guidance shall provide for a 180-day period for the submission of such claims (in such manner as prescribed by such Secretary) to begin not later than 30 days after such guidance is issued. Such claims shall be paid by such Secretary not later than 60 days after receipt. If such Secretary has not paid pursuant to a claim filed under this subsection within 60 days after the date of the filing of such claim, the claim shall be paid with interest from such date determined by using the overpayment rate and method under section 6621 of such Code.