The Department of the Treasury and the Internal Revenue Service have issued Notice 2024-49 concerning the clean fuel production tax credit (45Z Credit) under the Internal Revenue Code. Taxpayers looking to claim this credit are strongly encouraged to register as clean fuel producers under section 4101 promptly. The IRS emphasizes timely registration to avoid missing out on potential benefits; applications received after July 15, 2024, may result in delays in receiving registration letters and, consequently, a loss of the 45Z Credit for 2025. The Notice provides insights into eligible transportation fuels for the 45Z Credit, highlighting hydrogen, natural gas, biodiesel, and more with emissions rates below 50 kgCO2e per mmBTU. Additionally, nearly 100 feedstocks have been listed, shedding light on the focus of Treasury and the detailed lifecycle analysis approach being taken. The 45Z Credit, which succeeds various fuel production credits expiring in 2024, is set to be available for clean fuels produced and sold between January 1, 2025, and December 31, 2027. Notably, it is tech-neutral, incentivizing fuels with low emission rates and offering higher credits for environmentally superior options. The emission rates for different fuel types are to be detailed in an emissions table, to be published by Treasury no later than January 1, 2025. Stay tuned for further updates on this developing area of clean fuel production and tax incentives.