NEFI Endorses Three-Year Biodiesel Tax Credit Extension

Legislation to extend the biodiesel and renewable diesel tax credit for three years was reintroduced in the House and Senate last week. The credit is currently set to expire at the end of 2022. This bipartisan legislation (H.R.3472 in the House and S.1806 in the Senate) would extend the current blender tax credit through 2025 at the current rate of $1 per gallon. This could become viable as other proposals, including a Senate bill to replace it with a producer tax credit linked to carbon intensity, are met with mixed support from the biofuels industry. Complete details are available in last week's legislative alert, available online here.