Nebraska retailers who sell higher ethanol blends of fuel are now able to apply for tax credits made available through the passage of a bill passed unanimously by the state legislature and signed into law by Gov. Ricketts earlier this year. The Nebraska Department of Revenue began taking applications for the higher blend tax credits August 1.
Under the law, retailers can receive a credit of 5 cents on each gallon of E15 sold and 8 cents per gallon of E25 or higher blends sold.
“Utilizing ethanol should be a centerpiece of our national strategy to lower gas prices,” said Gov. Ricketts. “Ethanol saves drivers money at the pump, is better for the environment, and creates opportunities for farm families here in Nebraska. As a state, we’re doing our part to grow U.S. energy production by encouraging sales of renewable fuel.”
In Nebraska, E85 is available at 124 fueling stations. E15 is available at 112 fueling stations, and that number continues to grow.
“At the retail level, very simply put, E15 is better fuel and it costs less,” said Randy Gard, chief operating officer of Bosselman Enterprises and secretary of the Nebraska Ethanol Board. “If you are a retailer, there is now nothing standing in your way today to make the transition from E10, the standard fuel most people use today, to joining this mass conversion to E15.”
Both Gov. Ricketts and Randy Gard will be participating in the American Coalition for Ethanol conference in Omaha this week where the movement to E15 will be a big topic of conversation.