Biofuels Production Fund and Incentive Grant Program; created. (HB1423)
Introduced By
Del. William Barlow (D-Smithfield) with support from co-patron Sen. Frank Ruff (R-Clarksville)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Biofuels Production Fund and Grant Incentive Program; established. Establishes the Biofuels Production Fund (the Fund) and the Biofuels Production Grant Incentive Program (the Program) to administer the Fund. The Program offers grants to producers of neat biofuels, which are defined as either biodiesel fuels or ethanol fuels that are not mixed with traditional fuels such as gasoline or diesel fuel. To be eligible for a grant the producer must produce in excess of 10 million gallons of neat biofuels within the Commonwealth in a calendar year using feedstock originating domestically within the United States. Producers that qualify for a grant under the program may be granted $0.20 per gallon of neat biofuel produced in the given calendar year at a 50% cost share of up to 80 million gallons. Therefore a producer meeting the maximum production limit under the program of 80 million gallons would be eligible for an $8,000,000 grant. The Program and Fund would expire on December 31, 2016. This bill is incorporated into HB 680 (Wittman). Read the Bill »
Outcome
History
Date | Action |
---|---|
01/16/2006 | Presented and ordered printed 060165224 |
01/16/2006 | Referred to Committee on Science and Technology |
01/23/2006 | Fiscal impact statement from DPB (HB1423) |
01/30/2006 | Reported from Science and Technology with substitute (20-Y 1-N) |
01/30/2006 | Referred to Committee on Appropriations |
01/31/2006 | Committee substitute printed 060171224-H1 |
02/01/2006 | Fiscal impact statement from DPB (HB1423H1) |
02/02/2006 | Assigned App. sub: Commerce, Agriculture, and Natural Resources |
02/10/2006 | Incorporated by Appropriations (HB680-Wittman) |