Senate Finance Committee Passes Biodiesel Measures in Ag Proposal
Biodiesel Industry Applauds Committee for Supporting Renewable Fuels

JEFFERSON CITY, Mo.– The National Biodiesel Board (NBB) applauded the Senate Finance Committee for approving yesterday the Heartland, Habitat, Harvest and Horticulture (4-H) Act of 2007 by a 17- to 4-vote margin. The measure contained energy tax provisions vital to the biodiesel industry's continued integration into the domestic energy supply.

The 4-H Act contained an extension of biodiesel tax incentive. The federal biodiesel tax incentive currently expires on Dec. 31, 2008. Given the important role the credit plays in helping biodiesel compete in the marketplace with conventional diesel fuel, extension of the biodiesel tax incentive is a top National Biodiesel Board (NBB) priority. The agriculture tax package approved by the Senate Finance Committee extends the credit through Dec. 31, 2010. The measure also extends the Biodiesel Small Producer Tax Credit through December 31, 2012.

"Extension of the biodiesel tax incentive is vital to our industry," noted NBB CEO Joe Jobe. "The U.S. biodiesel industry appreciates the Senate Finance Committee's leadership in recognizing the valuable role biodiesel can play in reducing our dependence on foreign oil in an environmentally friendly way. Extending the biodiesel tax incentive as included in this bill will support the growth of a stable biodiesel industry and allow American biodiesel producers to compete for global demand while ensuring that only quality fuel is sold in the U.S. market."

The NBB is the national trade association of the biodiesel industry and is the coordinating body for biodiesel research and development in the U.S. NBB's membership is comprised of state, national, and international feedstock and feedstock processor organizations, biodiesel suppliers, fuel marketers and distributors, and technology providers.

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