SAF Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill, the Securing America's Fuels Act (SAF Act), aims to support the production of sustainable aviation fuel (SAF) by modifying the tax credit available to producers. Specifically, it increases the credit amount for SAF produced at qualified facilities and extends the availability of this credit through December 31, 2033. The bill modifies the calculation of the credit to incentivize more SAF production and reduce reliance on traditional jet fuel.
Key provisions
- Increases the tax credit for sustainable aviation fuel (SAF) production to 35 cents per gallon for fuels from facilities meeting certain criteria.
- Increases the tax credit for SAF production to $1.75 per gallon for fuels from facilities meeting specific criteria.
- Extends the availability of the SAF production tax credit through December 31, 2033.
- Defines sustainable aviation fuel as liquid fuels meeting specific ASTM standards and not derived from palm fatty acid distillates or petroleum.
- Specifies the criteria for ‘qualified facilities’ used in determining the credit amount.
- Clarifies the standards for SAF through reference to ASTM International Standards.
- Sets the effective date for the changes to December 31, 2025.
Who is affected
- Aviation fuel producers
- Sustainable aviation fuel manufacturers
- The aviation industry
- Energy sector
Bill text
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Sponsors
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4 on record
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