S. 692 is proposed legislation that seeks to amend the Internal Revenue Code of 1986 to modify the clean fuel production credit. It introduces a special rate for sustainable vessel fuel, allowing it to qualify as transportation fuel under specified conditions, such as being...
Simple Explanation
The bill suggests giving special treatment to clean fuel made for boats, making it cheaper and helping the environment, but only if it meets certain rules. This special deal for boat fuel would last until 2035, starting from 2026.