Iowa Governor Terry Branstad signed SF 2309 into law this week, a bill expanding state biodiesel incentives. The bill includes a tax credit that assists the states 13 operational biodiesel producers remain competitive in the marketplace. The bill also includes a retailer’s credit that encourages fuel retailers to carry higher blends of biodiesel than they may currently offer consumers.
Gov. Branstad signed the legislation into law at the REG Newton biodiesel plant in Newton, Iowa surrounded by biodiesel supporters from around the state.
“We are extremely grateful that Governor Branstad and the Iowa legislature appreciate the impact of biodiesel in Iowa and beyond,” said Grant Kimberley, Iowa Biodiesel Board (IBB) executive director. “Renewable fuels like biodiesel point the way to a more sustainable energy future—and a more independent, home-grown energy future as well. With these additional incentives, Iowa is perfectly positioned to experience even more economic growth in environmentally friendly biofuels.”
Recently, the governor signed legislation to secure another year of funding for the state’s successful biodiesel and ethanol blender pump program, the Renewable Fuels Infrastructure Program.