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 2005 for biodiesel or...
Archives
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...
September 2, 2016
Brazil Backtracks From Plan To Increase Ethanol Use Through Tax Breaks
On August 24, 2016, Brazil's government announced that it would not be extending a tax break on ethanol sales that is due to expire in December 2016. During the 2015 Paris Climate Accord, Brazil pledged to increase cane-based ethanol and biodiesel to nearly 18 percent of its total energy mix by 2030, requiring an increase in annual ethanol production from 30 billion liters in 2015/2016 to 50 billion liters in 2030. The loss of the ethanol tax break prevents biofuel from being cost...
On July 6, 2016, Hawaii Governor David Ige signed SB 2652 Related to Taxation -- Locally Produced Renewable Energy. This bill establishes a five-year renewable fuels production tax credit. The tax credit will take effect in 2017 and will provide 20 cents per gallon of ethanol (or 76,000 British thermal units (Btu) of renewable fuel) with a cap of $3 million. The tax credit is open to companies producing at least 15 billion Btu of fuel from renewable feedstocks per year. Acceptable fuels include,...
July 1, 2016
Bill Increasing Biogas Technologies Eligible For Energy Tax Credit Introduced To The House
On June 15, 2016, H.R. 5489, Agriculture Environmental Stewardship Act of 2016, was introduced to the House Ways and Means Committee on Science, Space, and Technology. The bill would add additional biogas applications to the list of technologies that qualify for the federal Section 45 energy investment tax credit, increasing acceptable biogas technologies from only biogas-based electricity projects to "qualified biogas property" defined as: property comprising a system which-- ...
On May 24, 2016, Iowan Governor Terry Branstad signed Senate File 2309, an Act providing for tax credits and refunds relating to renewable fuels including their component biofuels and including effective date provisions. The bill extends a state biodiesel production tax credit providing 2 cents per gallon (cpg) on the first 25 million gallons of production per biodiesel plant. The bill also extends a credit for petroleum retailers of 4.5 cpg on blends of 5 percent biodiesel or more through 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 pound of...
June 25, 2015
Australia Reaches Agreement To Tax Biodiesel And Ethanol
On June 17, 2015, the Australian government made a bipartisan agreement to tax Australian-produced biodiesel and ethanol. Cleaner fuel grants for renewable and biobased diesel fuels will end by July 1, 2015, as will the Ethanol production grant. An excise rate on biodiesel will be phased in starting in 2015-2016 at zero percent, and will increase annually, eventually reaching 50 percent of the diesel excise rate in 2030-2031. The Biofuels Association of Australia approved of the agreement,...
September 26, 2014
House Democrats Introduce Energy Tax Extender Bill
On September 18, 2014, Representatives Earl Blumenauer (D-OR) and Dave Loebsack (D-IA), along with 16 other Members of Congress, introduced H.R. 5559, the Bridge to a Clean Energy Future Act of 2014. A copy of Representative Blumenauer's statement on the bill is available online. H.R. 5559 is the House counterpart to S. 2260, the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act. The package of tax extenders was approved by the Senate Finance Committee in April and stalled...
April 11, 2014
House Ways And Means Hearing On Tax Extenders
On April 8, 2014, House Committee on Ways and Means Chair Dave Camp (R-MI) held a hearing on the "Benefits of Permanent Tax Policy for America's Job Creators." The hearing focused on the expiring business tax provisions that are made permanent or extended under Camp's recently released discussion draft of the "Tax Reform Act of 2014" (TRA). Unlike his Senate counterpart -- Senate Committee on Finance Chair Ron Wyden (D-OR) -- Camp is not very supportive of passing a...