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Michigan tax credit bill passed Ag Commission

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Michigan tax credit bill passed Ag Commission

Michigan legislation has advanced to create tax credits for retailers offering E15 and other ethanol mixtures. The State Senate Agricultural Commission passed the bill Thursday morning and submitted it to the Senate for consideration.

The law, backed by farm groups and the Michigan Agricultural Business Association, states that ethanol is one of the state’s most important markets for corn and will save consumers money.

If passed and signed by Governor Gretchen Whitmer, the new law will be 5 cents per gallon for the sale of the E15 and 1 gallon for the sale of the E85 to offset the cost of installing fuel pumps and tanks. We offer 8.5 cents of credit per.

Currently, there are less than 12 fuel retailers in Michigan offering higher concentrations of ethanol mixtures.

Emily Boynton of POET states that similar legislation is being considered in Minnesota, Missouri, Nebraska, Indiana and Ohio.



Michigan tax credit bill passed Ag Commission

https://brownfieldagnews.com/news/michigan-tax-credit-bill-passes-ag-committee/ Michigan tax credit bill passed Ag Commission

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