Michigan Lawmakers Pass Bill Containing E15 Tax Incentive
The Michigan legislature has passed an $83 billion FY 2025 budget, including a 5-cent-per-gallon tax credit for E15 fuel, capped at $100,000 per retailer and totaling $3 million. Retailers must be licensed and report quarterly sales to qualify. Growth Energy’s CEO, Emily Skor, praised the bill, highlighting its potential to expand E15 use. Governor Gretchen Whitmer is expected to sign the legislation into law. Full details are available on the Michigan Legislature’s website.
The Michigan legislature on June 27 passed a $83 billion fiscal year (FY) 2025 budget package that includes a 5-cent-per-gallon tax credit for E15 fuel. Growth Energy has spoken out in support of the legislation’s E15 provisions.
The tax credit will allow fuel retailers who sell E15 to claim a rebate of 5 cents per gallon of blended fuel sold. Under the legislation, individual retailers are subject to a $100,000 annual cap on the rebate. The bill allocates a total of $3 million to the E15 rebate program for FY 2025.
To be eligible for the rebate, fuel retailers must be licensed by the Michigan Department of Agriculture and Rural Development to sell motor fuel within the state. They must also sell blended E15 to consumers. Retailers that claim the rebate must submit quarterly reports to the Michigan Department of Treasury that include the volume of blended fuel sold.
“This new tax incentive will give Michigan drivers even more opportunities to take advantage of E15, a more affordable, lower-carbon fuel option that can be used in 96% of vehicles on the road today,” said Emily Skor, CEO of Growth Energy. “The coordinated leadership of State Reps. Will Snyder and Reggie Miller, as well as appropriations chairs in both chambers, Rep. Angela Witwer and Sen. Sarah Anthony, was essential to advancing this incentive through the legislature, and our industry is grateful for their commitment to biofuels. We commend the legislature for taking action and look forward to Governor Whitmer signing the bill into law.”
Michigan Gov. Gretchen Whitmer is expected to sign the bill. A full copy of the legislation is available on the Michigan Legislature website.
Source Link : https://ethanolproducer.com/articles/michigan-lawmakers-pass-bill-containing-e15-tax-incentive
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