On March 11, 2011, the IRS Office of Chief Counsel issued PLR 201125008, 2011 WL 2508989, concerning the I.R.C. § 40(a)(4) and (b)(6) cellulosic biofuel producer credit. The letter ruling was released to the tax services on June 24, 2011, and is significant for two reasons. First, there is very little guidance on the cellulosic biofuel producer credit. Although the ruling cannot be cited as precedent pursuant to section 6110(k)(3), it provides valuable insight into the IRS's analysis and viewpoint on the issues. Second, for the first time, the IRS Office of Chief Counsel addressed qualification for the credit when the cellulosic biofuel is further processed into other "green" fuels.