Tag: tax credits

Coalition calls on Congress to pass SAF blenders tax credits

Coalition calls on Congress to pass SAF blenders tax credits

May 3, 2022 |

In Washington, sustainable aviation fuel (SAF) is a proven and essential component of the aviation industry’s drive toward decarbonization, and federal tax policies such as a dedicated blender’s tax credit are necessary to spur investment in commercial-scale production of this vital next-generation fuel, a large group of stakeholders said in a recent letter to Congress. […]

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Nebraska governor signs bill supporting E15 tax credits

Nebraska governor signs bill supporting E15 tax credits

April 20, 2022 |

In Nebraska, Governor Pete Ricketts on Thursday signed LB 1261e during a ceremony at the Nebraska State Capitol.  LB 1261e extends the Nebraska Advantage Rural Development Act, which had been set to expire at the end of 2022. The bill also expands the Nebraska Advantage Rural Development incentive program to provide ten times the amount […]

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Missouri bill would provide $5M in annual tax credits for higher ethanol blends

Missouri bill would provide $5M in annual tax credits for higher ethanol blends

January 27, 2022 |

In Missouri, the Fulton Sun reports that Rep. Kurtis Gregory, R-Marshall has introduced a bill that would provide up to $5 million per year in tax credits for higher ethanol blends between 15% and 85%. The credit would be for 5 cents per gallon at the pump. Both POET Bioprocessing in Laddonia and the Missouri […]

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Renewable Chemicals Act bill introduced into House to support industry through tax credits

Renewable Chemicals Act bill introduced into House to support industry through tax credits

December 23, 2020 |

In Washington, U.S. Reps. Bill Pascrell, Jr. (D-NJ-09) and Brian Fitzpatrick (R-PA-01) have introduced the Renewable Chemicals Act, legislation that will create an allocated tax credit for production of qualifying renewable chemicals from biomass or investment in production facilities. The bill will accelerate commercialization of the renewable chemicals and biobased products and help build a […]

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REG expects up to $470 million in retroactive biofuel tax credits

REG expects up to $470 million in retroactive biofuel tax credits

December 30, 2019 |

In Iowa, Renewable Energy Group reported in an SEC 8-K form that following reinstatements and extensions of a set of tax provisions, including the retroactive reinstatement for 2018 and 2019 and extension for 2020 through 2022 of the federal biodiesel mixture excise tax credit, with respect to the business it conducted in 2018 and in […]

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Democrats unveil draft of GREEN Act that includes extending biofuel tax credits

Democrats unveil draft of GREEN Act that includes extending biofuel tax credits

November 20, 2019 |

In Washington, House Ways and Means Subcommittee on Select Revenue Measures Chairman Mike Thompson (CA-05) and Committee Democrats released a discussion draft of the Growing Renewable Energy and Efficiency Now (GREEN) Act. This draft legislation is a comprehensive approach to tackling climate change by using the tax code to extend and expand renewable energy use […]

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Colorado resident pleads guilty to money laundering using biofuel tax credits

Colorado resident pleads guilty to money laundering using biofuel tax credits

March 25, 2019 |

In Colorado, a Colorado resident pleaded guilty last week in the U.S. District Court for the District of Colorado to conspiracy to defraud the United States, conspiracy to commit money laundering, and money laundering, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division. Matthew Taylor and co-conspirators worked together to […]

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House Ways & Means chair proposes extension of biodiesel tax credits

House Ways & Means chair proposes extension of biodiesel tax credits

November 27, 2018 |

In Washington, Rep. Kevin Brady (R-Texas), chairman of the House Ways & Means Committee, released a proposal to make technical corrections to the Tax Cuts and Jobs Act (PL 115-97) and to extend several expired tax credits, including the biodiesel and renewable diesel tax incentive. NBB welcomed the proposal for a multi-year extension of this […]

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Hawaiian bioenergy project could be up for $100 million in federal tax credits

Hawaiian bioenergy project could be up for $100 million in federal tax credits

November 26, 2018 |

In Hawaii, if Hu Honua Bioenergy can start producing wood-based power by year’s end, the company says it will qualify for $100 million in federal tax credits for renewable energy investments. The $260 million project has met a number of legal hurdles as well as flooding that kept it from starting up production last year […]

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Iowa’s Senate approves $10 million in bio-chemical tax credits

Iowa’s Senate approves $10 million in bio-chemical tax credits

March 17, 2016 |

In Iowa, the state’s Senate on Wednesday voted 46-3 in favor of up to $10 million in tax credits to promote the renewable chemical industry. The House Ways and Means Committee also approved a companion bill the same day that will now be sent to the House floor for a vote. Proponents of the bill […]

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