Biofuels stimulation package becomes law in Kentucky; offers tax credits, capital investment incentives

In Kentucky, Governor Fletcher signed energy incentive legislation that will provide up to half the capital investment in a biofuels project.

To qualify, a biofuel facility must involve a capital investment of at least $25 million.

The incentives can cover labor costs on a new project; sales and use taxes; income tax and corporate taxes. The incentives are funded by a state bond issue. The state also adds tax credits of $1 per gallon for biodiesel and ethanol.

Free Subscription to the Daily Biofuels Digest e-newsletter

Related Stories

US House committee OKs $20 billion in energy incentives, credits: pump conversion, investment tax credit increases, extensions

In Washington, the US House Ways and Means Committee approved a package of $20 billion in energy tax credits and incentives and cleared the way for the provisions to move to a vote on the floor of the...

60 Mgy biodiesel plant announced in Kentucky

In Kentucky, Southland Renewable Fuel announced a 60 Mgy biodiesel plant in Paducah. Construction over three years is projected to cost $100 million. Last month, Governor Fletcher ssigned energy in...

Alltech announces Kentucky investment; results from Kentucky’s Incentives for Energy Independence Act

In Kentucky, Alltech announced a 10 Mgy next-generation biofuels plant. The $40 million project received tax benefits up to $8 million under incentives created by Kentucky’s Incentives for Ener...

Henderson County, Kentucky forms group to advise on policy, attract synfuel, biofuel companies

In Kentucky, Henderson County has formed a Henderson Energy Advisory Team to develop policies and bring synfuels and biofuel companies to the county. In October, Alltech announced a 10 Mgy next-gen...

Kentucky makes equity investment in Louisville Clean Fuels for production process capable of simultaneously producing bio-gas, biodiesel, ethanol, and electricity

In Kentucky, the state has awarded $1.2 million from the Kentucky New Energy Ventures fund to seven early-stage Kentucky-based renewable energy companies. Among the recipients is Louisville Clean Ener...

US Congress to take up new renewable energy bill this week; tax credits for ethanol, biodiesel among provisions

In Washington, US lawmakers are expected to take up a new renewable energy bill next week, which will extend renewable energy tax credits through 2011. Tax credits for solar, fuel cells, cellulosic et...