SOURCE: Growth Energy
May 3, 2024
BY Renewable Fuels Association, Growth Energy and the U.S. Grains Council
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More than 2.06 billion RINs were generated under the Renewable Fuel Standard in April, up from 1.84 billion generated during the same month of last year, according to data released by the U.S. EPA on May 16.
A group of 25 trade organizations on May 15 sent a letter to Treasury Secretary Janet Yellen urging the agency to release guidance for the 45Z clean fuels production tax credit along with any necessary updated GREET models.
U.S. Senate Agriculture, Nutrition and Forestry Committee Chairwoman Debbie Stabenow, D-Mich., and House Agriculture Chairman Glenn “GT” Thompson, R-Pa., on May 1 released outlines for competing versions of the 2024 Farm Bill.
The Treasury Department and IRS on April 30 released new guidance on the SAF tax credit and announced the launch of the 40BSAF-GREET 2024 model, which incorporates a pilot-program to encourage the use of climate-smart ag practices for SAF feedstocks.
Nebraska Gov. Jim Pillen on April 24 signed a legislative package that includes a tax credit to support the production of SAF within the state. The tax credit applies to eligible SAF that achieves at least a 50% GHG emissions reduction.