Gov. Reynolds signs legislation to lower taxes on renewable fuels
STEAMBOAT ROCK, Iowa (KCRG) - Gov. Reynolds on Tuesday signed legislation to lower the cost of E-15 and higher blends of renewable fuels in Iowa by changing how the state taxes higher-blend biofuels.
The bill was signed during Gov. Reynolds’ weekly press conference at Pine Lake Corn Processors in Steamboat Rock.
“Iowa continues to lead on innovative ways to drive demand for biofuels,” said Gov. Reynolds. “This legislation makes higher blend biofuels even cheaper at the pump while driving demand for homegrown renewable Fuel.”
Additionally, the governor announced $7 million more in funding for the Renewable Fuels Infrastructure Program through the CARES act.
This program offers cost-share money to fuel retailers in the state who convert their equipment, or install new equipment, to allow the expanded use of renewable fuels.
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