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World Biofuels Symposium
November 13-15, 2005
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2nd Annual Canadian Renewable Fuels Summit
December 13-15, 2005
Toronto, Ontario, Canada
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National Biodiesel Conference & Expo 2006
February 5-8, 200
6
San Diego, California
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11th Annual National Ethanol Conference: "Policy & Marketing"
February 20-22, 200
6
Las Vegas, Nevada, USA
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22nd Annual International Fuel Ethanol Workshop & Expo
June 20-23, 200
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Milwaukee, Wisconsin, USA


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Posted on  

February 4, 2003

Small Ethanol Producer Incentive Legislation Introduced

Rod Swoboda

The Renewable Fuels Association (RFA) is applauding the bipartisan efforts of members of both the U.S. Senate and House of Representatives who in late January 2003 introduced legislation designed to update the small ethanol producer tax credit program.

The legislation (S. 240 and H.R. 465) if passed by Congress and signed into law, will fix a technical glitch that makes it difficult for farmer-owned cooperative ethanol plants to participate in the program. The program provides a 10-cent per gallon tax credit for the first 15 million gallons of production by a small plant.

Senator Peter Fitzgerald, R-Ill., joined by Sens. Tim Johnson, D-S.D., Chuck Hagel, R-Neb. and Tom Harkin, D-Iowa, introduced the bill in the Senate. In 2002, the legislation was included in the Senate-passed tax title of the comprehensive energy bill. However, the energy bill stalled and ultimately did not pass.

"Farm cooperatives can be an efficient way for farmers to trim costs and maximize income," states Fitzgerald. "The tax code shouldn't penalize farmers for pooling their resources in cooperatives."

Change will help farmer-owned ethanol plants

The bills also update the definition of a small ethanol producer from a maximum of 30 million gallons per year production to 60 million gallons. This change reflects the tremendous growth in farmer-owned ethanol plants over the last five years. Farmer-owned plants now routinely produce 40 to 50 million gallons each year.

In the House, newly elected Representative Steve King, R-Iowa, made this bill his very first. The bill had several cosponsors: Reps. Earl Pomeroy, D-N.D., Roy Blunt, R-Mo., John Shimkus, R-Ill., Mike Simpson R-Ind., Dennis Rehberg, R-Mont., Jerry Weller, R-Ill., Ray LaHood, R-Ill., Mark Kennedy, R-Minn., Tom Latham, R-Iowa, Jerry Moran, R-Kan., Doug Bereuter, R-Neb., Sam Graves, R-Mo., Jo Ann Emerson, R-Mo., and Timothy Johnson, R-Ill.

"It is my hope that as the 108th Congress works on either an economic stimulus bill or an energy bill that this legislation will be a part of the package," says King.

Bob Dinneen, RFA president, adds: "We applaud these members for their hard work on this issue. Fixing the small ethanol producer program remains one of the very top priorities of the RFA and we are confident the legislation will pass this year and be signed into law by President Bush."

U.S. ethanol industry sets annual production record

RFA announced Jan. 27, 2003, the U.S. ethanol industry set an annual production record of 2.13 billion gallons in 2002, up over 20% from 1.77 billion gallons in 2001 and 45% from 1.47 billion gallons in 1999.

"The ethanol industry's record production is great news for consumers, farmers, and the environment," says Dinneen. "By providing a cost-effective supply of domestic, clean-burning fuel, the ethanol industry is helping to keep our country, our economy and our environment more secure."

Twelve new ethanol plants began production in 2002, significantly adding to our ability to expand ethanol use from coast to coast. The ethanol industry is now capable of processing over 1 billion bushels of corn a year into clean, renewable fuel and high-value feed coproducts."

According to data from the U.S. Department of Energy, a new all-time monthly production record was also set in December. Over 176,000 barrels per day (b/d) of ethanol were produced, exceeding the previous monthly record of 166,000 b/d set in November. This was the fifth all-time monthly production record in a row.


 

 

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