Renewable-fuels group applauds extension of biofuel tax incentives

The bill to avert the "fiscal cliff" includes an extension of several tax incentives for the biofuels industry. The measure provides a one-year extension of the special allowance for cellulosic biofuel plant property, the tax credit for alternative fuel vehicle refueling property and the cellulosic biofuel producer tax credit, and expands the list of cellulosic feedstocks to include algae. "The one year extension of the cellulosic producer tax credit and accelerated depreciation provides some measure of certainty to ensure that 2013 will be a year of growth and milestones for the advanced ethanol industry," said Bob Dinneen, president and CEO of the Renewable Fuels Association, in a statement.

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EthanolProducer.com · DomesticFuel.com · Biofuels-News.com (U.K.) · TheEnergyCollective.com

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