House approves tax incentives for algal fuels

09/30/2010 | BrighterEnergy.org · Feedstuffs (Minnetonka, Minn.)

A bill that would expand the coverage of cellulosic-biofuel tax incentives to include algae-based fuels was approved Tuesday in the House of Representatives. The proposal, from Rep. Harry Teague, D-N.M., changes the definition of cellulosic biofuels in the Internal Revenue Code to include algal fuels. Under the proposal, algae-fuel developers would be eligible to receive a $1.01-per-gallon production incentive and 50% bonus depreciation for biorefinery assets.

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BrighterEnergy.org · Feedstuffs (Minnetonka, Minn.)

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