The Renewable Fuels Association is asking Congress to pass three tax extender measures for advance biofuels as part of the budget bill they need to finalize on or before December 9. RFA President and CEO Bob Dinneen says they include the second generation biofuel producer tax credit, the special depreciation allowance for second generation biofuel plant property and the alternative fuel vehicle refueling property credit.
He says the alternative fuel vehicle refueling property tax credit is critical for smaller convenience store owners who want to offer higher ethanol blends for consumers who are demanding it.
Dinneen says the tax code needs to be fair and allowing advanced renewables to have these tax incentives is one way to accomplish that.
Dinneen says the second generation biofuel industry needs certainty for its investors and providing these tax incentives is key to helping achieve that.
