Archives

September 22, 2017

New York Governor Signs Bill On Bioheating Fuel Requirements

By Kathleen M. Roberts The National Biodiesel Board (NBB) announced that on September 13, 2017, New York Governor Andrew Cuomo signed legislation that introduces bioheating fuel tax credits and bioheating fuel tax requirements to three New York counties.  The bill (S5422A) requires all home heating oil sold for use in Nassau, Suffolk, and Westchester counties on or after July 1, 2018, to contain at least five percent biodiesel (B5).  Assemblyman Steve Englebright and Senator Phil...
July 14, 2017

Bipartisan Renewable Chemicals Bill Introduced In The House

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...
June 30, 2017

NBB Meets With Congress On Biodiesel Tax Incentive

By Kathleen M. Roberts On June 20, 2017, the National Biodiesel Board (NBB) announced that nearly 100 biodiesel advocates from across the country visited Capitol Hill to urge Congress to bring back the biodiesel tax incentive as proposed in both chambers of Congress.  Industry participants consisted of biodiesel producers, distributors, and feedstock suppliers from over 24 states.  According to Anne Steckel, the Vice President of Federal Affairs at NBB, the bipartisan biodiesel...
May 12, 2017

Senate Finance Committee Introduces Clean Energy For America Act

By Lauren M. Graham, Ph.D. On May 5, 2017, Senator Ron Wyden (D-OR) introduced to the Senate Finance Committee legislation focused on reducing carbon pollution over the next decade by incentivizing clean energy and promoting new technologies in the private sector.  The Clean Energy for America Act, which was co-sponsored by 21 Democratic Senators, provides a simplified set of long-term, performance-based energy tax incentives to promote clean energy production and storage.  The...
May 5, 2017

Bipartisan Bill Introduced To Reform The Biodiesel Tax Credit

By Lauren M. Graham, Ph.D. On April 26, 2017, a bipartisan bill was introduced in the U.S. Senate to reform the biodiesel tax credit and extend the new policy for three years.  The American Renewable Fuel and Job Creation Act of 2017, which was sponsored by Senator Chuck Grassley (R-IA), Senator Maria Cantwell (D-WA), and 14 other senators, transfers the $1 gallon tax credit from the blenders to the producers of biofuels to ensure that it...
April 28, 2017

IRFA Concerned By Bill To Cap Iowa Biofuel Tax Credits

By Kathleen M. Roberts On April 13, 2017, the Iowa Renewable Fuels Association (IRFA) released a statement regarding the passage of a bill, HSB 187, by the Iowa House Appropriations Committee that would cut the value of the Iowa biofuels tax credits and complicate the mechanism for receiving the credit.  According to the bill, the value of the tax credits would be determined based on annual sales, and the amount of the credits would be capped...
January 13, 2017

Extension of New York’s Clean Heating Fuel Tax Credit

The New York State Clean Heating Fuel Tax Credit has been extended through 2020.  The personal income tax credit, which was initially authorized in 2006, is provided to eligible taxpayers for biodiesel purchases used for residential space and water heating.  For each percent of biodiesel blended with conventional home heating oil, a tax credit of $0.01/gallon is available up to a maximum of $0.20/gallon.  A partial credit will be calculated for buildings with a shared...
October 28, 2016

BIO Writes Open Letter To Congress Encouraging Multi-Year Extension Of Biofuel Incentives

On October 18, 2016, the Biotechnology Innovation Organization (BIO) sent a letter to Congressional Leadership, the Senate Finance Committee Chairs, and the House Ways and Means Committee Chairs calling for the extension of expiring renewable energy tax credits.  The Second Generation Biofuel Producer Tax Credit, the Special Depreciation Allowance for Second Generation Biofuel Plant Property, the Biodiesel and Renewable Diesel Fuels Credit, and the Alternative Fuel Vehicle Refueling...
September 30, 2016

Bill To Extend Biodiesel Tax Credit Introduced In The House of Representatives

On September 12, 2016, the  Biodiesel and Renewable Diesel Incentive Extension Act of 2016 (H.R. 5994) was introduced to the House of Representatives and referred to the House Committee on Ways and Means. The bill was introduced by Representative Diane Black (R-TN), and would extend the $1 per gallon biodiesel and renewable diesel blenders credit, originally set to expire December 31, 2016, through  December 31, 2018. The blenders tax credit of $1 was created in...
September 16, 2016

Weekly Roundup of Other Biobased News

? The Hill, "Energy Groups Push For Renewal Of Tax Credits" ? Neste, "Neste and Ikea of Sweden Announce Partnership to Deliver Renewable, Bio-Based Plastics" ? Packaging Europe, "Croda Offers CrodaTherm™ 21 for Temperature Controlled Packaging Applications" ? The University of New Orleans, "UNO Computer Science Faculty Awarded More Than $500k for Vital Research" ? Airforce Technology, "US Air Force to Produce Biofuels for US DoD...