Michigan Bill Aims to Create Tax Credit for Sales of E15, E85
by Erin Voegele (Ethanol Producer Magazine) Legislation introduced in the Michigan Senate on Jan. 11 aims to create a tax credit for retailers that choose to sell higher ethanol fuel blends, such as E15 and E85.
The bill, introduced by State Sen. Kevin Daley, would create a 5-cent-per-gallon tax credit for the sale of E15 and an 8.5-cent-per-gallon credit for the sale of E85, according to a statement released by Daley. Both credits would expire after five years unless renewed by the legislature.
“Biofuels are a major economic engine for rural communities across Michigan, and they help position our state to rely less on foreign oil,” Daley said. “This legislation will help accelerate Michigan’s biofuel production and ultimately provide cleaner and cheaper fuel that is locally grown and produced.”
“The goal of this legislation is to create an incentive for gas stations to offer higher ethanol blends, which will help reduce emissions, benefit Michigan corn farmers, and offer drivers additional, more affordable options at the pump,” he continued.
Gabe Corey, general manager of Carbon Green BioEnergy and industry representative on the Michigan Corn Growers Association Board, welcomed the introduction of the bill. “With so much uncertainty at the federal level, it’s more important than ever for Michigan lawmakers to promote new markets for biofuels,” he said. “The return on investment is clear. Statewide adoption of E-15 and E-85 would slash carbon emissions, save families money at the pump and fuel Michigan’s economy for decades to come.”
Growth Energy also applauded Daley’s bill. READ MORE
PROPOSED MI LEGISLATION WOULD OFFER BIOFUELS TAX CREDIT (Brownfield Ag News)
Growth Energy Welcomes Michigan Push on Biofuel Blends (Growth Energy)
Senator Daley Introduces Bill To Boost Michigan Biofuels (Bergeson & Campbell)
Daley proposes bill to boost Michigan biofuels, expand clean options at the pump (Office of Michigan State Senator Kevin Daley)
AG GROUPS VOICE SUPPORT FOR MICHIGAN ETHANOL TAX CREDIT LEGISLATION (Brownfield Ag News)
