US legislators, backed up by several agricultural industry groups, have called on the US Treasury Department to release guidance on 45Z — the Clean Fuel Production Credit (CFPC) — before the end of the year, requesting that the tax restrict eligibility to renewable fuels made from domestically sourced feedstocks.
In a press release on Monday September 9, the National Oilseed Processors Association (NOPA) and the American Soybean Association (ASA) indicated their support for a September 4 bipartisan letter from members of the US House of Representatives to US Treasury Secretary Janet Yellen, seeking expedited guidance on 45Z ahead of the January 2, 2025, statutory deadline.
The 45Z credit will replace the US blenders’ tax credit (BTC) at the start of 2025. However, many specifics of the credit remain unclear, and this has left many producers unable to project their feedstock needs and biodiesel production volumes for next year.
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