US Representatives submit The Low Carbon Biofuel Credit Act for consideration
July 8, 2021
| Meghan Sapp
The Low Carbon Biofuel Credit Act, which was introduced in the House with Rep. Adrian Smith (NE-03), would create a tax credit for each gallon of fuel containing 15 percent or greater ethanol content (E15).
The bill would allow an ethanol blender or fuel retailer to claim a 5 cent tax credit for each gallon of E15 blended or sold and a 10 cent tax credit for each gallon greater than E15 blended or sold.
This legislation would also allow the credit to be fully refundable and transferable for small retailers.
Category: Policy