NW Ohio Times

The Ohio House of Representatives has approved House Bill 324, a piece of legislation that introduces a temporary non-refundable tax credit on sales of E15 and higher blended biofuels. Spearheaded by State Representatives Riordan McClain and Roy Klopfenstein, the bill aims to promote the use of E15 fuel in Ohio.

Under the proposed legislation, a tax credit of 5 cents per gallon will be available for all businesses selling fuel containing at least 15% ethanol. The credit will be in effect until either $10 million is credited or four years have passed. The goal is to increase the availability of Ohio-produced biofuel, which is known to be cost-saving and can help reduce carbon emissions.

Representative McClain emphasized the importance of making E15 more widely available, stating, "E15 is not a new product, but since it entered the market, its availability has been suppressed. It is our hope that by offering this temporary tax credit, the availability of this Ohio-produced, cost-saving fuel will increase across the state."

Ohio is already a significant player in ethanol production, ranking in the top 10 states. However, most of the fuel produced in Ohio is exported to other states. Currently, only 60 stations in Ohio offer E15 fuel, compared to more than 2,300 stations nationwide. Representative Klopfenstein highlighted the economic benefits of promoting ethanol, noting, "Ohio is home to seven ethanol plants, one of which is in my district where it provides great paying jobs for more than 40 people and produces 90 million gallons of bioethanol each year. Ethanol is three to 10 cents cheaper per gallon than traditional fuel, and nine out of 10 cars can use it."

House Bill 324 received strong bipartisan support in the Ohio House of Representatives. It will now move to the Ohio Senate for further consideration. The legislation aims to boost the local economy, create job opportunities, and reduce the environmental impact of transportation in the state.

Ohio's ethanol industry stands to benefit greatly from this legislation, as it will increase demand for their products and encourage more businesses to sell E15 fuel. By providing a tax credit, the state is incentivizing the use of biofuels and supporting the growth of a sustainable and renewable energy sector.

With the passage of House Bill 324, Ohio is taking a step towards a greener future. The tax credit for E15 and higher blended biofuels will not only benefit businesses and consumers but also contribute to a cleaner environment. It is a positive development for the state's ethanol industry and a significant move towards reducing carbon emissions in the transportation sector.

Overall, the passage of House Bill 324 demonstrates Ohio's commitment to promoting renewable energy sources and reducing reliance on traditional fossil fuels. It is a commendable effort to support the growth of the local ethanol industry and encourage the use of cleaner and more sustainable transportation fuels.