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ISA DIRECTORS SUPPORT BIODIESEL INCENTIVES
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URBANDALE,
Iowa - The Iowa Soybean Association Board of Directors
has endorsed an incentives-first approach to 2008 biodiesel policy
for the upcoming Iowa legislative session. The ISA biodiesel policy
options feature a variety of market-driven strategies for Iowa
legislators to consider.
Highlights of this plan include:
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• an increase in
the current retail tax credit program,
• creation of a
“bulk sales” incentive,
• new infrastructure
support options through the Renewable Fuels Infrastructure Board,
• subsidies to existing biodiesel production facilities, and
• increased biodiesel usage by state fleets.
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“We think this
is a balanced, market-driven approach to biodiesel policy,”
says Curt Sindergard, ISA president and a soybean farmer near Rolfe,
Iowa.
The ISA has started the policy process early because the group recognizes
the current challenges facing the industry due to high feedstock
costs. The ISA intends to feature the retail tax credit program,
says Sindergard.
“We’re focused on a retail
credit program that emphasizes biodiesel-blended fuel in the B5
to B10 range. In addition, our plan for the other options will promote
higher blends, increased usage and additional access to biodiesel,”
says Sindergard.
The ISA is a leading supporter of the industry, investing millions
of dollars in biodiesel research and market promotion. In 2006,
the ISA was a leader in a broad-based effort to establish the state’s
first biodiesel tax incentive.
In endorsing the incentives-focused approach, the ISA board was
clear about its position on fuel mandates.
“We do not support a mandate at the state level. We prefer
a national approach to a biodiesel mandate,” says Sindergard.
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