Energy Improvement and Extension Act of 2008
Enacted October 3, 2008
The Energy Improvement and Extension Act of 2008 is Division B of the Emergency Economic Stabilization Act (Public Law 110-343). Title II of Division B of the law includes several provisions related to tax credits and exemptions for alternative fuels and fuel-efficient technologies. The table below provides a summary of the relevant provisions.
| Reference | Description |
|---|---|
| Section 202 | Amends the existing biodiesel mixture and agri-biodiesel production tax credits by: extending the tax credits for one year through December 31, 2009; allowing all biodiesel, regardless of feedstock, to qualify for the $1.00 per gallon mixture incentive (with the exception of co-processed renewable diesel); and adding camelina as a qualified feedstock for agri-biodiesel production. |
| Section 204 | Amends the expiration date for the existing alternative fuel excise tax credit from September 30, 2009, to December 31, 2009. |
| Section 205 | Creates a new tax credit for qualified plug-in electric vehicles (PEVs) purchased between January 1, 2009, and December 31, 2014. The credit amount is determined based on vehicle weight and battery capacity. A phase-out period will be initiated once 250,000 qualified PEVs are sold in the United States. |
| Section 206 | Exempts qualified idle reduction devices from the retail excise tax imposed on heavy-duty trucks. |
| Section 207 | Amends the existing alternative fuel infrastructure tax credit by extending the incentive for one year through December 31, 2010, and adding electricity to the list of qualified alternative fuels. |