The Iowa House has joined the State Senate in approving legislation to extend several important state tax incentives for renewable fuels. Iowa Renewable Fuel Association Policy Director Grant Menke says the measure received overwhelming support from lawmakers and will move the industry forward providing consumers with more fuel choices.
He says the legislation provides multiple benefits for consumers, renewable fuel producers and the state’s farmers.
Menke says the passage of the legislation couldn’t have come at a better time given the uncertainty at the federal level and the tough economic conditions being faced by ag producers.
According to a recent IRFA study, Iowa’s renewable fuels industry accounts for more than $ 4.6 billion of the state’s gross domestic product, generates $ 2.3 billion in income for Iowa’s households and supports more than 43,000 jobs throughout all sectors of the state’s economy.
