Reynolds introduces biofuels bill, recognizes IRFA
Summary
According to Reynolds, the bill “doubles Iowa’s biodiesel production tax credit to incentivize production in Iowa.” In addition, the legislation increases fuel retailer tax credits to expand consumer access to higher biodiesel blends using a market-based approach, It also makes improvements to the renewable fuels infrastructure program, Reynolds said, noting her budget doubles funding for the program to $10 million per year for the next five years. In addition, the bill codifies an executive order issued in 2019 requiring that all diesel engine vehicles in the state fleet to be compatible with higher blends of biodiesel. In fact, research shows that statewide E15 in Iowa could cut climate emissions by 180,000 metric tons, the equivalent of removing almost 40,000 vehicles off the road across the state,” she added. Reynolds’ tireless support for biofuels and look forward to working with Chairman Lee Hein and other legislative leaders to ensure the bill’s passage,” Skor continued. We will continue to support Iowa ethanol and biodiesel producers while growing consumer access to clean, high-performing fuels.” A full copy of the proclamation is available on the IRFA website.