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Minnesota Bills to Incentivize Biofuel, Biochemicals, Biomass Thermal

BioChemicals/Renewable Chemicals, BioRefineries/Renewable Fuel Production, Business News/Analysis, Feedstocks, Field/Orchard/Plantation Crops/Residues, Forestry/Wood, Funding/Financing/Investing, Government Resources, Minnesota, Not Agriculture, Policy, Resources
March 17, 2014
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by Erin Voegele (Ethanol Producer Magazine)  Legislation pending in the Minnesota Legislature aims to create incentives for renewable chemicals, advanced biofuels, and biomass thermal energy.
In the Minnesota House of Representatives, H.F. 2456 aims to create a capital equipment loan program for renewable chemicals and advanced biofuel. It would also create incentive programs for advanced biofuel production, renewable chemical production and biomass production. A companion bill, S.F. 2101, was also introduced in the Minnesota Senate
H.F. 2456 was introduced on Feb. 27. A hearing on the measure is scheduled to be held by the House Agriculture Policy Committee on March 13.
According to the text of the legislation, the capital equipment loan portion of the measure would established a renewable chemical and advanced biofuel revolving loan fund that is eligible to receive appropriations and make loans. The state agriculture commissioner is tasked with creating the loan program. All repayments of loans generated from the fund, including principal and interest, would be redeposited to the fund.
The incentive program would be available for qualified facilities that source at least 80 percent of their raw materials from Minnesota.  READ MORE

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