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Food, Conservation, and Energy Act of 2008: Difference between revisions
Food, Conservation, and Energy Act of 2008 (view source)
Revision as of 23:48, 1 March 2025
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=== Main sections === | === Main sections === | ||
Section 9003 of the Food, Conservation, and Energy Act of 2008 provided for [[Grant (money)|grant]]s covering up to 30% of the cost of developing and building demonstration-scale [[biorefinery|biorefineries]] for producing "[[advanced biofuel]]s", which essentially includes all fuels that are not produced from corn kernel starch. It also allows for [[loan guarantee]]s of up to $250 million for building commercial-scale biorefineries to produce advanced biofuels. The bill funds the biorefinery program by drawing $75 million in funds from the [[Commodity Credit Corporation]] (CCC) for | Section 9003 of the Food, Conservation, and Energy Act of 2008 provided for [[Grant (money)|grant]]s covering up to 30% of the cost of developing and building demonstration-scale [[biorefinery|biorefineries]] for producing "[[advanced biofuel]]s", which essentially includes all fuels that are not produced from corn kernel starch. It also allows for [[loan guarantee]]s of up to $250 million for building commercial-scale biorefineries to produce advanced biofuels. The bill funds the biorefinery program by drawing $75 million in funds from the [[Commodity Credit Corporation]] (CCC) for fiscal year (FY) 2009, increasing to $245 million by FY 2010. It also authorizes $150 million per year in [[discretionary fund]]s for the program. | ||
Section 15321 of the bill established a new [[tax credit]] for producers of [[cellulosic biofuel]]s, that is, biofuels produced from wood, grasses, or the non-edible parts of plants. The new cellulosic biofuel producer credit is set at $1.01 per gallon and applies only to fuel produced and used as fuel in the United States. In addition, Section 9005 of the bill provided $55 million in CCC funds in FY 2009 to support advanced biofuel production, increasing to $105 million by FY 2012. It also authorizes up to $25 million per year in discretionary funding. | Section 15321 of the bill established a new [[tax credit]] for producers of [[cellulosic biofuel]]s, that is, biofuels produced from wood, grasses, or the non-edible parts of plants. The new cellulosic biofuel producer credit is set at $1.01 per gallon and applies only to fuel produced and used as fuel in the United States. In addition, Section 9005 of the bill provided $55 million in CCC funds in FY 2009 to support advanced biofuel production, increasing to $105 million by FY 2012. It also authorizes up to $25 million per year in discretionary funding. | ||