Senate Bill Provides Tax Incentives for Biogas Investments
by Erin Voegele (Biomass Magazine) Sens. Sherrod Brown, D-Ohio, and Pat Roberts, R-Kan., reintroduced the Agricultural Environmental Stewardship Act on Sept. 24. The bill aims to expand the biogas market by providing a 30 percent investment tax credit to help offset the upfront costs associated with building biodigester systems.
“Ohio farmers are struggling to safely dispose of livestock waste that could be used for renewable energy,” Brown said. “This legislation will encourage investment in the technology needed to convert these waste materials into natural gas that can be used to power households and businesses across the country.”
“This legislation promotes a commonsense way to turn waste into energy, reduce greenhouse gas emissions, create jobs and grow the economy,” Roberts said. “The Warrior Biogas project near Dodge City, Kansas is a shining example of what could happen across Kansas and America if we incentivize further development of these innovative technologies.”
The bill, S. 2542, was introduced Sept. 24 and referred to the Senate Committee on Finance. A companion bill, H.R. 3744, was introduced by Reps. Ron Kind, D-Wisc., and Tom Reed, R-N.Y., in July.
The Agricultural Environmental Stewardship Act is supported by the American Biogas Council, the American Farm Bureau Federation and the Ohio Farm Bureau.
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Additional information on the bill is available on the Congress.gov website. https://www.congress.gov/bill/116th-congress/senate-bill/2542/all-actions?s=1&r=1 READ MORE
Bill Proposes Tax Credits for Biogas Systems (NGT News)