Tag: tax credits

House Ways & Means chair proposes extension of biodiesel tax credits

House Ways & Means chair proposes extension of biodiesel tax credits

November 27, 2018 |

In Washington, Rep. Kevin Brady (R-Texas), chairman of the House Ways & Means Committee, released a proposal to make technical corrections to the Tax Cuts and Jobs Act (PL 115-97) and to extend several expired tax credits, including the biodiesel and renewable diesel tax incentive. NBB welcomed the proposal for a multi-year extension of this […]

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Hawaiian bioenergy project could be up for $100 million in federal tax credits

Hawaiian bioenergy project could be up for $100 million in federal tax credits

November 26, 2018 |

In Hawaii, if Hu Honua Bioenergy can start producing wood-based power by year’s end, the company says it will qualify for $100 million in federal tax credits for renewable energy investments. The $260 million project has met a number of legal hurdles as well as flooding that kept it from starting up production last year […]

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Iowa’s Senate approves $10 million in bio-chemical tax credits

Iowa’s Senate approves $10 million in bio-chemical tax credits

March 17, 2016 |

In Iowa, the state’s Senate on Wednesday voted 46-3 in favor of up to $10 million in tax credits to promote the renewable chemical industry. The House Ways and Means Committee also approved a companion bill the same day that will now be sent to the House floor for a vote. Proponents of the bill […]

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IRS publishes tax code for biodiesel tax credits

IRS publishes tax code for biodiesel tax credits

August 19, 2015 |

In Washington, the IRS has published a notice that informs claimants about the federal income tax treatment of credits under § 6426(c) and (d) of the Internal Revenue Code that are paid in cash under the one-time claim submission process of section 160(e) of the Tax Increase Prevention Act of 2014 (Act), Pub. L. No. […]

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Iowa proposal would give $15 million annually in biochemical tax credits

Iowa proposal would give $15 million annually in biochemical tax credits

May 27, 2015 |

In Iowa, the state’s economic development director is supporting legislation that would put $15 million a year towards tax credits to encourage ethanol and biodiesel producers to also produce chemicals. Demand for biofuels is seen as flat moving forward but bolting on biochemical production could help boost the industry by 20% to 30%.

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Iowa legislature to look at tax credits for using biofuel byproducts in chemicals

Iowa legislature to look at tax credits for using biofuel byproducts in chemicals

October 21, 2014 |

In Iowa, the state’s Economic Development Authority Board wants to see the legislature take up a proposal next year that would establish a tax credit for companies using productions derived from ethanol production for chemicals, such as corn oil for plastics. The policy is aimed at supply chain companies, not “anchor companies” like ADM and […]

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US biofuels association write to Congress to extend expiring tax credits

US biofuels association write to Congress to extend expiring tax credits

December 10, 2013 |

In Washington, More than 60 advanced biofuel companies and four leading trade organizations on Monday wrote to leaders of the House Ways and Means and Senate Finance Committees, encouraging Congress to extend critical tax provisions set to expire at the end of this month. The Advanced Ethanol Council, Advanced Biofuel Association, Algae Biomass Organization and Biotechnology […]

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Tax Credits Are a Valuable Tool in the Biofuels Policy Toolbox

Tax Credits Are a Valuable Tool in the Biofuels Policy Toolbox

January 7, 2013 |

By Brent Erickson, Executive Vice President, BIO Industrial & Environmental Section It is not often I disagree or take issue with Biofuels Digest; however, the recent article and analysis on cellulosic tax credits left out some key points. There are a number of policy tools to help the biofuels industry compete with entrenched incumbents and […]

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UK to revise Renewable Transport Fuel Obligation to synch with EU directive

UK to revise Renewable Transport Fuel Obligation to synch with EU directive

December 8, 2011 |

In the UK, the House of Commons and the House of Lords are currently debating the draft amendment that would bring the existing 2007 Renewable Transport Fuel Obligation in line with the European Union’s Renewable Energy Directive. Hearings were held on Dec. 5. The draft legislation is available here.  

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"The tax credit will help, but we could live without it": Genencor

"The tax credit will help, but we could live without it": Genencor

May 24, 2011 |

Genencor CEO Tjerk de Ruiter says, “As long as they create a mandate, the tax credit will help, but we could live without it.” Last week, Genencor released a foundational survey on consumer attitudes towards +bio-based products” and the “bio-based” moniker, and created the Genencor Household Sustainability Index. The full report is online today via […]

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