Congress this week passed the Tax Increase Prevention Act of 2014, which extends a number of expired or expiring tax provisions through the end of 2014. The President is expected to sign the Act soon. The Act extends a number of biofuel, biodiesel and mixed diesel incentives, including:

- The second generation biofuel producer credit is extended to apply to qualified fuel production before January 1, 2015.

- The biodiesel and mixed diesel income tax credit is retroactively extended to qualified fuels sold or used before January 1, 2015.

- The excise tax credits for biodiesel mixtures and alternative fuels are extended to qualified fuels sold or used before January 1, 2015.

- The additional depreciation deduction allowance for second generation biofuel facilities is extended for one year, to apply to property placed in service before January 1, 2015.