According to the release, the biofuels standard establishes a minimum level of biodiesel to be blended in the state's diesel fuel pool, gradually increasing over time. Beginning in 2022, the legislation ensures that biodiesel comprises 11 pct of the diesel pool and provides tax credits for higher blends. The program expands to 20 pct biodiesel blends (B20) in future years.
The legislation also establishes new retail income tax incentives for fuel marketers and provides funding for biodiesel projects through the Iowa Renewable Fuels Infrastructure Program. Financial support for renewable fuels would also be made available from the Rebuild Iowa Infrastructure Fund.
(Source: Ag Processing Inc., PR, 23 Feb., 2021) Contact: Ag Processing Inc., Troy Alberts, VP Refined Oils and Renewable Fuels, 402-496-7809, www.agp.com
More Low-Carbon Energy News Ag Processing, Biofuel Blend,