House bill seeks to give tax breaks, incentives to algae-based fuels

12/2/2009 | Hill, The

A new House bill to amend the Internal Revenue Code would allow algae-based fuels to qualify for tax credits and special property allowances. The measure, sponsored by Reps. Harry Teague, D-N.M., Brian Bilbray, R-Calif., and Jay Inslee, D-Wash., is seen to boost the research and development of algae, which are seen by many companies, including Exxon Mobil Corp., to one day become a major source of renewable fuels.

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Hill, The

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