Renewable Fuels Bill Sent to Governor Branstad
DES MOINES, Iowa (AP) - A bill to extend tax credits for renewable fuels has been sent to Gov. Terry Branstad.
The bill originally extended renewable fuel tax credits for ethanol and biodiesel in the state to Jan. 2, 2020, but the House amended it to 2018. The Senate on Thursday accepted the amendment voting 48-0 to send the bill to the governor.
The bill also increases the tax credit for E15, a fuel with 15 percent corn-based ethanol. This tax credit would go up in the summer from 3 cents per gallon to 10 cents per gallon.
Biobutanol, an advanced biofuel, is added to the definition of renewable fuels.
Sen. Robert Hogg, a Cedar Rapids Democrat, says the bill maintains Iowa as a leader in renewable fuels.