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Biodiesel Tax Credit on path to certainty

The National Biodiesel Board is poised to celebrate certainty for the Biodiesel Tax Credit absent for more than a decade.

Kurt Kovarik with NBB says he’s confident Congress will vote in favor of a year-end funding bill that includes a five-year extension for the biodiesel tax incentive.

“It’s been lapsed since the end of 2017, so two of these years are actually retroactive for 2018 and 2019. But then it also provides three years of prospective credit out through 2022.”

He tells Brownfield the longest the Biodiesel Tax Credit has ever been in place uninterrupted was in the three years following its creation in 2005.

“So finally Congress is doing what I think Congress had intended by providing that certainty and creating that incentive that they want.”

Kovarik says the incentive will help promote a greener fuel that’s homegrown.

The House of Representatives passed the bipartisan spending bill today and the Senate is expected to vote on it by Thursday.