COLUMBUS, OHIO—Development Vitality, the nation’s largest biofuels commerce affiliation, submitted testimony right now to the Ohio Home of Representatives and its Methods and Means Committee voicing assist for Home Invoice 324, which would offer a tax credit score to incentivize gas retailers to promote extra bioethanol blends like E15 (made with 15% bioethanol) and E85 (made with 51-85% bioethanol).
“This credit score is essential as retailers in Ohio proceed to construct out the market and put money into further infrastructure to put in these ethanol blends,” stated Development Vitality in its written testimony. “Ethanol blends comparable to E15 and E85 present environmental advantages, enhance Ohio’s farmers and biofuel producers, and provides customers extra inexpensive selections on the pump.”
E15, typically branded Unleaded 88 (UNL88), is a gas made from gasoline and 15% bioethanol. It’s authorized for all vehicles mannequin 12 months 2001 and newer, which represents greater than 95% of the automobile miles traveled on the highway right now and greater than 9 out of 10 vehicles on the highway. Thus far, customers have now pushed greater than 90 billion miles on E15, and retailers have performed tens of millions of transactions with this gas. Ohio at present has 144 retail areas promoting E15, and 256 areas promoting E85. The state can also be house to seven biorefineries–5 of that are Development Vitality members.
Learn Development Vitality’s full testimony right here and be taught extra concerning the invoice right here.
