Iowa Biodiesel Board members are hoping State lawmakers approved a Senate measure to allow for a state biodiesel tax credit. Iowa Biodiesel Board Executive Director Grant Kimberley says the credit is needed to provide certainty for the industry and especially with the national credit expiring last year and still in limbo this year.
Kimberley says this measure would extend the state’s biodiesel tax credit to five years. The present one year credit that’s in place expires at the end of 2014. Kimberley says he’s optimistic about the bill’s chances although they still have some hurdles to overcome.
Kimberley says there’s been no opposition seen so far on the biodiesel tax credit extension. Iowa is the nation’s leading biodiesel producer with 12 plants operating with a capacity to produce 320 million gallons.