December 18, 2015
BY Erin Krueger
Members of Congress have passed a $1.1 trillion spending bill and accompanying legislative package of tax extenders that includes two-year extensions of several tax credits that benefit the bioenergy sector. President Obama is expected to sign the measure into law.
On the morning of Dec. 18, the U.S. House of Representatives passed the spending bill by a vote of 316 to 113. A short time later, the U.S. Senate voted 56 to 33 in favor of the legislation.
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The tax package extends the second generation biofuel production credit through Jan. 1, 2017. The credit is currently scheduled to expire at the end of the year. The biodiesel and renewable diesel tax credit is also extended for two years, through Dec. 31, 2016. In addition, the bill aims to extend the special allowance for second generation biofuel plant property through Jan. 1, 2017. The alternative fuels excise tax credit is also extended through the end of 2016, along with the credit for alternative fuel vehicle refueling property.
The tax extenders package also benefits biomass power with a two year extension of the Section 45 production tax credit (PTC).
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The 2009-page omnibus spending bill includes fiscal year 2016 funding for a wide range of government departments and programs, including the Biomass Crop Assistance Program, the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance program, and Rural Energy for America Program.
Full copies of the spending bill and tax extenders legislation can be downloaded from the U.S. House of Representatives’ website.
The U.S. Department of Energy Bioenergy Technologies Office (BETO) announced up to $23 million in funding to support research and development (R&D) of domestic chemicals and fuels from biomass and waste resources.
The U.S. DOE has announced its intent to issue funding to support high-impact research and development (R&D) projects in two priority areas: sustainable propane and renewable chemicals and algal system cultivation and preprocessing.
Sens. Sherrod Brown, D-Ohio, and Pete Ricketts, R-Neb., in August introduced the Renewable Chemicals Act, a bill that aims to create a tax credit to support the production of biobased chemicals.
The Chemical Catalysis for Bioenergy Consortium, a consortium of the U.S. DOE’s Bioenergy Technologies Office, has launched an effort that aims to gather community input on the development of new biomass processing facilities.
USDA on March 8 celebrated the second annual National Biobased Products Day, a celebration to raise public awareness of biobased products, their benefits and their contributions to the U.S. economy and rural communities.