Illinois biodiesel tax exemption extended through 2030
Illinois Governor JB Pritzker has signed legislation incentivizing use of higher biodiesel blends.
Andrew Larson with the Illinois Soybean Association tells Brownfield the bill has been a cornerstone initiative of their organization for 3 years.
“We were successful in getting legislation passed and signed this week by the governor to extend the state sales tax exemption on biodiesel blends of 10% and higher for the next few years.”
The legislation extends the current B10 sales tax exemption until 2023 and then increases the blend level subject to the tax exemption to B13 in 2024, B15 in 2025 and B19 in 2026.
He says they were also successful in getting the exemption extended for a longer period, with the new law valid through 2030.
“Which is a huge win because based on the law that existed before this week, by 2024 there would have been no biodiesel support in state policy. So, it is a huge win and provides certainty for the industry.”
Larson says passage of the bill further shows the role clean biofuels can play in offsetting emissions, and Illinois soybean growers are proud to help provide a liquid fuel option to help meet climate and health goals
Clean Fuels Alliance America CEO Donnell Rehagen also applauds the milestone saying the innovative tax program has drawn hundreds of millions of gallons of biodiesel into Illinois since it began in 2003 and the new law “solidifies Illinois as a leading source and user of better, cleaner biodiesel.”