In Maine, Governor Janet T. Mills released a letter about the newly instated renewable chemicals tax credit, saying “Maine boasts the most competitive renewable chemical tax credit in the nation” and COVID-19 “has also provided an opportunity to pause and reflect on our current systems, and to carve a path forward that supports growth and […]
In Missouri, Rock House Advisors and PB Renewables run by biofuel industry veterans announced they have secured financing in order to offer biodiesel tax credit bridge loans, underwritten by an $5.5 billion financial institution, that will allow producers to access required financing while waiting for 2018 and 2019 biodiesel tax credit refunds from the IRS. […]
In Iowa, following the recent extension of long-awaited $1/gallon biodiesel blenders tax credits, Ag Professional reports that Western Dubuque Biodiesel started up production again last Friday after being shut most of December and January. The biodiesel market had been negatively impacted by the Environmental Protection Agency’s issuance of small refinery exemptions that led to demand […]
In Texas, ICIS reports that biodiesel producers hit the statutory blending requirement for the year by early November which has forced producers to cut production by up to 60% as they wait for the renewal of the biodiesel production tax credit of $1/gallon that may never come along. With the Environmental Protection Agency not expected […]
In Washington, Congresswoman Abby Finkenauer (IA-01) and Congresswoman Kendra Horn (OK-05) led a Democratic caucus letter to House leadership urging action on extension of the biodiesel tax credit. Specifically, the lawmakers are asking for extensions of the biodiesel, alternative fuel vehicle refueling property, and second generation biofuel producer tax credits. In the letter addressed to House […]
In Washington, Congresswoman Rosa DeLauro (CT-03) led a bipartisan letter urging the immediate extension of the expired tax incentive for domestic biodiesel production. The letter highlights the diverse economic and environmental benefits of biodiesel and is signed by more than 20 Members of Congress across 12 states. “By nearly every measure, the story of American […]
In California, California Ethanol & Power, LLC (CE&P) announced that it was awarded a $10 million income tax credit as part of the California Governor’s Office of Business and Economic Development (GO-Biz) California Competes program. “CE&P is extremely pleased about our award which demonstrates confidence by the state of California in our ability to assist […]
In Washington, Congresswoman Abby Finkenauer (IA-01) introduced the Biodiesel Tax Credit Extension Act, a two-year extension of the biodiesel tax credit. Congress had previously extended the tax credit retroactively for 2017 but left it expired for 2018 and beyond. Producers and businesses at every stage of the biodiesel production and consumption process rely on these […]
In Washington, a coalition of 10 trade associations representing producers and marketers of renewable fuels urged Congress to pass a multiyear extension to the biodiesel tax credit in a joint letter. Signatories to the letter were Advanced Biofuels Association, the American Farm Bureau Federation, the American Trucking Association (ATA), the National Association of Convenience Stores […]
In Pennsylvania, David Tielle, who served as Director Business Development at Keystone Biofuels Inc. (Keystone), pleaded guilty Wednesday in federal court to one count of conspiring to defraud the Internal Revenue Service. Keystone purported to be a producer and seller of biodiesel. Between 2009 and 2012, Tielle participated in a conspiracy to fraudulently claim tax […]
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