IowaIowa biodiesel producers would receive a five-cent-per-gallon tax refund
Iowa biodiesel producers would use a five-cent-per-gallon refund rate, with the refund provision stated to end January 1, 2031.
What it does
The bill text sets a five-cent tax refund for each gallon of biodiesel a producer makes in Iowa. The amount is based on production each calendar-year quarter.
The bill text states that the biodiesel refund provision ends January 1, 2031.
Argument forA five-cent refund for each gallon produced in Iowa could give biodiesel producers more money to support their operations.
Argument againstKeeping the refund provision in place longer could extend the period in which state tax revenue goes back to biodiesel producers.
More detail
The bill text sets the refund rate at five cents for each gallon of biodiesel produced in Iowa. The rate applies to biodiesel producers and the gallons they produce in Iowa. The refund amount is calculated by multiplying the rate by the gallons produced in Iowa during each calendar-year quarter. The refund amount is calculated for each calendar-year quarter.
The bill text states that the refund provision is repealed January 1, 2031. The repeal date applies to the sales or use tax refund for biodiesel production. The provision is repealed January 1, 2031.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 1Committee report approving bill, renumbered as SF 2503.Latest
- Feb 18Subcommittee: Dawson, Petersen, and Schultz.
- Feb 16Referred to Ways and Means.Minor
- Feb 11Committee report, approving bill.Minor
- Feb 11Introduced, placed on calendar.Introduced
Taxes & BudgetAgriculture