By Lauren M. Graham, Ph.D. On October 18, 2017, Senator Debbie Stabenow (D-MI) introduced to the Senate the Renewable Chemicals Act of 2017 (S. 1980), which aims to establish a short-term tax credit for the production of renewable chemicals and for investment in renewable chemical production facilities. If enacted, the legislation would allow taxpayers to claim a production credit equal to $0.15 per pound of biobased content of each renewable chemical produced. In lieu of the...
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By Lauren M. Graham, Ph.D. On June 29, 2017, Representatives Bill Pascrell (D-NJ), Ryan Costello (R-PA), Brian Fitzpatrick (R-PA), and Linda Sánchez (D-CA) introduced the Renewable Chemicals Act of 2017 to the House. If enacted, the legislation would create a targeted, short-term tax credit for the production of qualifying renewable chemicals from biomass and for investments in renewable chemical production facilities. The tax credit would be provided based on job...
On March 17, 2016, the Iowa State Senate voted 46-3 to approve Senate File 2300, a bill creating a production tax credit for renewable chemicals. The legislation was created to attract investment in renewable chemical manufacturing and biorefining to Iowa, and covers the production of higher value biochemicals from plant materials left over from biofuel production. The House Ways and Means Committee approved House File 2288, a companion bill, and sent the measure to the...
November 13, 2015
Senator Stabenow Introduces Legislation To Provide Tax Credits For Renewable Chemical Production
On November 10, 2015, Senator Stabenow (D-MI), along with Senators Coons (D-DE) and Franken (D-MN), introduced S. 2271, the Renewable Chemicals Act of 2015 to the Senate. If passed, the bill would amend the Internal Revenue Code of 1986 to create short-term tax credits for the production of renewable chemicals and for investments in renewable chemical production facilities. Producing eligible renewable chemicals from biomass feedstock would result in a tax credit of 15 cents per...
On April 9, 2014, Montana-based renewable chemicals producer Rivertop Renewables (Rivertop) announced that it has raised $26 million from Cargill, First Green Partners, and existing investors. The Company explains in its press release that it "will leverage these funds and an existing manufacturing relationship to produce market development quantities of salts of glucaric acid for select customers. In addition, it will complete construction and begin operations at a semi-works facility at...
February 7, 2014
President Obama Expected To Sign New Farm Bill Into Law This Week
President Obama is expected to sign H.R. 2642, the Agriculture Act of 2014 (the new five-year Farm Bill), into law on Friday at Michigan State University in East Lansing, Michigan. He is scheduled to speak there about the importance of the legislation. The Farm Bill is critically significant to the biofuels and renewable chemicals and products industries because the new Farm Bill continues and expands on the majority of the energy programs covered under the...
On January 22, 2014, the largest U.S. biodiesel producer, the Renewable Energy Group, Inc.® (REG), headquartered in Ames, Iowa, announced that it has acquired renewable chemical producer LS9, Inc. for over $61 million. LS9 will be renamed REG Life Sciences LLC and will produce renewable chemicals and products. A copy of REG's press release is available online....
On October 29, 2013, hundreds of parents and children participated in a "stroller brigade" on Capitol Hill during which they lobbied Senate offices to provide greater protections against harmful chemicals during reform of the Toxic Substances Control Act (TSCA). The stroller brigade also joined actress Jennifer Beals at a press conference on TSCA reform sponsored by the Safer Chemicals, Healthy Families Coalition. Following the July 31, 2013, Senate Environment and Public Works hearing...
On October 30, 2013, the Conference Committee selected to merge the House and Senate versions of the next five-year Farm Bill met to begin formal negotiations. This Farm Bill Conference Committee is comprised of 41 bi-partisan Members of the U.S. House and Senate. Though Farm Bill Conference Committee negotiations are expected to be difficult, pressure is on Members of Congress to pass a final version of the next five-year bill by the end of this...
September 19, 2013
Metabolix Announces New Compostable Film Grade Resin
On September 16, 2013, Cambridge, Massachusetts-based renewable chemicals company, Metabolix, announced the development of Mvera B5010, which is a compostable film grade resin to be used for global compostable bag and film markets. Mvera B5010 meets international industrial standards for compostability and will be featured during K 2013 in Düsseldorf, Germany, October 16-23, 2013. A copy of Metabolix's press release on the announcement is available online....