Missouri bills aim to incentivize sales of higher biofuel blends
Two separate bills currently pending in the Missouri Legislature aim to establish tax credits to incentivize fuel retailers to offer higher blend of ethanol and biodiesel. Both bills are currently being considered by the House Committee on Agriculture Policy.
The ethanol bill, HB 1695, was introduced by Rep. Gregory Kurtis and aims to enact a 5-cent-per-gallon tax credit for sales of higher ethanol blends, defined as E15 and higher. The tax credit would be capped at $5 million per year and be in place through the end of 2028.
The biodiesel bill, HB 1875, was introduced by Rep. Mike Haffner and aims to establish a tax credit for the sale of biodiesel blends. The credit would be set at 2 cents per gallon for blends of B5 to B10, and 5 cents per gallon for sales of blends B11 and higher. The credit would be capped at $16 million per year and be in place through the end of 2028.
HB 1875 would also create a 2 cent per gallon production tax credit for biodiesel producers located within the state. That credit would be available on a prorated basis for out-of-state biodiesel producers based on the percentage of the producer’s feedstock that originates in Missouri. That credit would be capped at $4 million per year and be in place through the end of 2028.
Both bills were addressed during a hearing held by the Committee on Agriculture Policy on Jan. 25. The bills are also scheduled to be addressed during a Feb. 1 committee hearing.
Additional information is available on the Missouri Legislature website.
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