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2014 SESSION

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HB 1025 Biofuels Production Incentive Grant Program; eligibility to receive grants.

Introduced by: Riley E. Ingram | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Biofuels Production Incentive Grant Program. Changes the amount of the grant for biofuels produced in the Commonwealth from $0.10 for each gallon produced and subsequently sold to (i) $0.04 for each gallon sold in calendar year 2014, (ii) $0.03 for each gallon sold in calendar year 2015, and (iii) $0.025 for each gallon sold in calendar year 2016 and during the period January 1, 2017, through June 30, 2017. Each producer applying for a grant for 2015 production of biofuels is required to make a good faith effort to produce such biofuels using feedstock that is not derived from corn or the corn kernel, stalk, or any other part of the plant. No grant will be awarded for biofuels produced in 2016 or thereafter using feedstock derived from corn or the corn kernel, stalk, or any other part of the plant. The bill provides for a maximum of $1.5 million in grants to be awarded in each of fiscal years 2014-2015, 2015-2016, and 2016-2017. The bill changes current law that provides for no grant to be awarded for sales of biofuels made subsequent to December 31, 2016.


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