September 17, 2013
BY Platts
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The Treasury Department and IRS on April 30 released new guidance on the SAF tax credit and announced the launch of the 40BSAF-GREET 2024 model, which incorporates a pilot-program to encourage the use of climate-smart ag practices for SAF feedstocks.
Nebraska Gov. Jim Pillen on April 24 signed a legislative package that includes a tax credit to support the production of SAF within the state. The tax credit applies to eligible SAF that achieves at least a 50% GHG emissions reduction.
A coalition of 36 biofuel producers, ag groups, airlines and other SAF stakeholders on April 24 sent a letter to Agriculture Committee leaders in the House and Senate urging them to provide support for SAF in the upcoming Farm Bill.
The USDA on April 23 awarded more than $43 million in grants through the Higher Blends Infrastructure Incentive Program to support projects that will increase the availability of domestic biofuels in 15 states.
CoBank is predicting a positive outlook for ethanol in 2024 as plants capitalize on lower corn prices and improved margins, according to the company’s latest Quarterly Research Report, released April 11.