SOURCE: USDA
October 24, 2024
BY Erin Voegele
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Rep. Brad Schneider, D-Ill., on Oct. 22 introduced the Expanding Clean Fuel Production Act. The bill aims to extend the 45z clean fuel production credit for 10 additional years, through 2037. The credit is currently in place through 2027.
E2 on Oct. 15 released a new analysis on the Inflation Reduction Act’s impact along with a survey of more than 900 businesses that indicates repealing or rolling back the IRA’s provisions would result in losses, layoffs and closures.
The European Biodiesel Board on Oct. 17 obtained a favorable judgement from the Court of Justice, which rejected the appeal filed against the judgment of the General Court delivered on Dec. 14, 2022.
The U.S. Treasury Department and IRS on Oct. 18 issued additional guidance for the 40B SAF tax credit. The new guidance, Notice 2024-74, addresses the use of an updated 40BSAF-GREET 2024 model released by the U.S. Department of Energy in October.
The U.S. Supreme Court on Oct. 21 granted a petition to review the U.S. Court of Appeals for the Fifth Circuit’s November 2023 decision related to the administration of small refinery exemptions (SREs) under the Renewable Fuel Standard.