Legislation extends
biotax credit
Oct 13, 2008 5:58 PM
Included in the Emergency Economic Stabilization Act signed by President Bush earlier to aid the economic crisis in the United States is an extension of the biodiesel blender tax credit, according to the New England Fuel Institute's weekly NEFI Energy Online News.
The legislation extended the $1 per gallon tax credit, that was slated to expire December 31, 2008, to December 31, 2009. It also increases and extends for one year the 50-cent per gallon biodiesel blender’s credit available for product containing animal fats (yellow grease) to $1 per gallon, the same rate as biodiesel made from 100 percent plant oils (effective for biodiesel blended after December 31, 2008).
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