Iowa ethanol legislation awaits Governor’s pen

In Iowa, legislation awaiting the governor’s signature would extend tax breaks on ethanol to June 30, 2013 from its original expiry on July 1. The bill, which its author describes as a temporary fix, shields ethanol from being charged at the same rate as fossil fuel, which in the end would save 2 cents per gallon or about $8 million during the course of the 12 month extension.