Small Refinery Exemption Litigation Update
Podcast - An Update on the Renewable Fuel Standard Final Rule
Renewable Diesel: The Next Generation Of Biofuels
This announcement comes after a long planning and approval process that began back in November 2021, when the Bipartisan Infrastructure Law was signed, designating $7.5 billion to buildout a national network of electric...more
Section 40B of the Internal Revenue Code of 1986 (the “Code”) enacted by the Inflation Reduction Act of 2022 (the “IRA”) provides tax credits for each gallon of sustainable aviation fuel (“SAF”) sold or used by a taxpayer...more
On Jan. 22, Sens. Jerry Moran (R-KS), Amy Klobuchar (D-MN), Joni Ernst (R-IA), Tammy Duckworth (D-IL) and Chuck Grassley (R-IA) introduced the Farm to Fly Act (S.3637) in the Senate. The purpose of the bill is to enable...more
Eyes on Energy Tax Update is a quarterly publication of the Holland & Knight Renewable and Alternative Energy Tax Team that provides highlights of important developments. The Renewable and Alternative Energy Tax Team also...more
The Inflation Reduction Act of 2022 established sustainable aviation fuel (SAF) tax credits to benefit United States producers and importers of certain fuel mixtures containing SAF. On December 15, 2023, the Internal Revenue...more
The IRS and U.S. Department of the Treasury released on Dec. 15, 2023, Notice 2024-06 regarding Section 40B of the Internal Revenue Code. Effective for fuel mixtures sold or used after Dec. 31, 2022, and before Jan. 1, 2025,...more
The Canadian Council for Sustainable Aviation Fuels (C-SAF) recently launched a Roadmap for the country's aviation sector to remain competitive as it transitions to a net-zero future by 2050. C-SAF also published yesterday an...more
In a surprising turn of events, late on July 27, 2022, Senators Manchin (D-WV) and Schumer (D-NY) released the Inflation Reduction Act of 2022. The Act, which runs 725 pages, includes numerous energy tax provisions aimed at...more
The White House has taken a strong stance in expanding the production and use of Sustainable Aviation Fuel (SAF) to reduce carbon emissions in the aviation industry. SAFs are liquid hydrocarbon fuels that are blended into the...more
Find out why knowing the difference between renewable diesel and biodiesel can go a long way in understanding the benefits of each....more
For more than a decade, the Federal Renewable Fuel Standard (RFS) has provided powerful incentives that have driven the introduction of new transportation fuels into the US marketplace due to valuable credits known as...more
If companies want to capture the value and ultimately profit from the projected growth in renewable diesel, they’ll need to understand their netback....more
Nationally and globally, there is growing focus on renewable fuels as a potentially profitable part of the strategy to reduce carbon emissions and mitigate climate change. While a number of renewable fuels regulations and...more
A last-minute deal to extend several expired and expiring tax provisions was reached among House, Senate and Trump administration negotiators, ending months-long speculation about the package. The deal, which includes a...more
On June 18, 2019, Representative Mike Thompson, (D-CA), Chair of the House Ways and Means Subcommittee on Select Revenue Measures, introduced the Taxpayer Certainty and Disaster Tax Relief Act of 2019. ...more
On June 3, 2019, 19 members of Congress submitted a letter to U.S. Speaker of the House, Nancy Pelosi (D-CA), and Chair of the House Committee on Ways & Means, Richard Neal (D-MA), addressing the expired Second-Generation...more
On November 30, the EPA released its final rule for 2019/2020 renewable volume obligations (RVOs) for the Renewable Fuel Standard. The move establishes the marketplace for ethanol and other renewable fuels for the coming...more
On May 25, 2018, the National Biodiesel Board (NBB) dropped its nearly decade long pursuit to convert a $1-per-gallon tax credit for biofuel blenders to an equivalent credit for producers. NBB originally sought to change the...more
As explained in the notice issued by Neste, a member of the Biobased and Renewable Products Advocacy Group (BRAG®), with President Trump’s signing of the Bipartisan Budget Act of 2018 (H.R. 1892), the blenders tax credit was...more
On June 20, 2017, the National Biodiesel Board (NBB) announced that nearly 100 biodiesel advocates from across the country visited Capitol Hill to urge Congress to bring back the biodiesel tax incentive as proposed in both...more
On April 26, 2017, a bipartisan bill was introduced in the U.S. Senate to reform the biodiesel tax credit and extend the new policy for three years. The American Renewable Fuel and Job Creation Act of 2017, which was...more
On April 13, 2017, the Iowa Renewable Fuels Association (IRFA) released a statement regarding the passage of a bill, HSB 187, by the Iowa House Appropriations Committee that would cut the value of the Iowa biofuels tax...more
On September 12, 2016, the Biodiesel and Renewable Diesel Incentive Extension Act of 2016 (H.R. 5994) was introduced to the House of Representatives and referred to the House Committee on Ways and Means. The bill was...more
On April 5, 2016, the biofuel trade associations Advanced Biofuels Business Council, Algae Biomass Organization, Biotechnology Innovation Organization (BIO), Growth Energy, National Biodiesel Board, and Renewable Fuels...more
Last week the IRS released an internal memorandum addressing which of the parties to a contract manufacturing arrangement for biodiesel is treated as the “producer” of the biodiesel for certain federal tax purposes....more