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BIO Applauds Renewable Chemicals Act Bill

BioChemicals/Renewable Chemicals, BioRefineries/Renewable Fuel Production, Business News/Analysis, Delaware, Federal Agency/Executive Branch, Federal Legislation, Internal Revenue Service, Michigan, Opinions, Policy
November 13, 2015
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by Joanna Schroeder (DomesticFuel.com)  Senators Debbie Stabenow (D-MI), Chris Coon (D-DE) and Al Franken have introduced a new bill, S. 2271 the Renewable Chemicals Act of 2015. If passed, the legislation would amend the Internal Revenue Code of 1986 to provide credits for the production of renewable chemicals and investments in renewable chemical production facilities. The companion bill in the House is H.R. 3390.

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Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, said in response to the legislation, “Creating incentives in tax policy will help drive U.S. industrial biotech companies to continue to innovate and develop new renewable products in the chemical space. Incentives that support renewable chemicals will promote enhanced innovation in the chemical industry, the construction of next generation integrated biorefineries while creating new jobs and enhancing environmental benefits.”  READ MORE and MORE (Biofuels Digest)

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BioChemicals/Renewable ChemicalsBioRefineries/Renewable Fuel ProductionDelawareIRS (Internal Revenue Service)Legislation-FederalMichiganProduction tax credittax policy
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Swaziland Sweden sweetgum sweet potatoes Sweet sorghum swine waste Switchgrass Switzerland sycamore syngas (synthesis gas) syngas/gas fermentation synthesised aromatic kerosene (SAK) synthetic biology synthetic diesel synthetic gasoline synthetic kerosene synthetic liquified gas (SLG) synthetic methane/e-methane synthetic natural gas Syria Tailoring Rule Taiwan Tajikistan tall fescue tall oil tallow tallow tree tamanu/nyamplung Tamarix tank-to-wheel tank cars tankers tanker trucks Tanzania tariffs taro tar sands Tasmania tax benefit tax credit taxes tax incentives tax parity tax policy tea teach-the-teacher teacher teacher resources teacher training technical course Technical Readiness Levels technology transfer tech transfer telephone utility poles Tennessee termites terpenes terrestrial carbon testing Texas textbook Thailand theft therapeutics thermal deoxygenation thermocatalytic conversion thermochemical conversion thermochemical liquefaction Tier 3 Tier 4 tilapia tillage 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