RFA welcomes COVID-19 relief package’s inclusion of funds for biofuels

In Washington, the Renewable Fuels Association welcomed the passage of the Omnibus Appropriations and Coronavirus Relief Package, which explicitly includes renewable fuel producers as entities eligible to receive COVID-19 emergency relief aid. The bill also extends key tax provisions that support innovation and expansion in the renewable fuels industry, including the Second Generation Biofuel Producer Tax Credit, Alternative Fuel Refueling Property Credit, and the Section 45Q tax credit for carbon sequestration.

The legislation provides $13 billion in agricultural assistance and programs and specifies that the funding may be used to “make payments to producers of advanced biofuel, biomass-based diesel, cellulosic biofuel, conventional biofuel, or renewable fuel…produced in the United States, for unexpected market losses as a result of COVID–19.”