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Gov. Branstad signs renewable fuels act into law

COON RAPIDS – Gov. Terry E. Branstad today signed a renewable fuels act into law today.

The governor, along with Lt. governor Kim Reynolds, was at POET Biorefining in Coon Rapids Wednesday, where he signed Senate File 2344. The act will boost Iowa’s renewable fuels industry by extending the state’s biodiesel production tax credit and raising the state’s E15 retailer tax credit.

“I’m proud to sign this renewable fuels bill that received such wide, bipartisan support from the entire Iowa legislature and promotes E15, biodiesel and bio-butanol” Brantad said. “I have been a staunch supporter of protecting Iowa jobs and Iowa motorists’ access to cleaner, locally-produced renewable fuels, and this bill does exactly that.”

Golden Grain Energy, a biofuel plant
Golden Grain Energy in Mason City, a biofuel plant

“Iowa is the number one renewable fuels producing state, and the Governor and I are happy to support legislation that helps continue this leadership,” Reynolds said. “Renewable fuels like ethanol and biodiesel are a vital part of Iowa’s economy.”

Iowa is the leader in renewable fuels production. Iowa has 12 biodiesel facilities with the capacity to produce nearly 315 million gallons annually.  Iowa has 42 ethanol plants in the state, capable of producing over 3.8 billion gallons annually, with three cellulosic ethanol facilities currently under construction.. Iowa produces nearly 25% of all ethanol production in the United States.

Iowa Renewable Fuels Association (IRFA) Policy Director Grant Menke earlier said that the bill “will help preserve Iowa biodiesel jobs while also expanding Iowa motorists’ access to cleaner-burning, more locally-produced E15, and I applaud Iowa’s elected leaders for standing united with Iowa’s renewable fuels community.”

With renewable fuels producers facing unprecedented federal policy uncertainty, Senate File 2344 protects Iowa’s renewable fuels industry by extending the state’s biodiesel production tax credit that is set to expire at the end of this year, and enhancing the state’s E15 retailer tax credit to help alleviate extra costs to Iowa retailers who want to offer E15 as a registered fuel during the summer driving season.  The bill also updates Iowa Code to define biobutanol as a renewable fuel option for Iowans.

The Iowa Renewable Fuels Association was formed in 2002 to represent the state’s liquid renewable fuels industry. The trade group fosters the development and growth of the renewable fuels industry in Iowa through education, promotion, legislation and infrastructure development.

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