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Jim Mulgrew knows the value of biodiesel, not only to his business, but to Iowa consumers. The president of Mulgrew Oil, a fuel distributor, sells biodiesel from a bulk facility in Dubuque, Iowa. Now, thanks to a new Iowa law, availability will improve for Iowa consumers.
Gov. Tom Vilsack today signed into law two renewable fuels and infrastructure bills (HF 2754 and HF 2759). This means distributors like Mulgrew Oil will likely sell more biodiesel, since point-of-sale retailers will receive a three cent income tax credit on each gallon of a two percent (B2) blend or higher.
Many other states have also passed significant legislation this legislative session.
Read the full news release.
View a fact sheet on 2006 biodiesel-related state legislation. |
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