On Tuesday September 24, a group of US lawmakers introduced bipartisan legislation that would extend a new biofuel producers’ tax credit for 10 years and would restrict eligibility to renewable fuels made from US-sourced feedstocks.
The forthcoming Clean Fuel Production Credit (CFPC), or 45Z, is set to replace the current $1-per-gallon Blenders’ Tax Credit (BTC) starting on January 1, 2025.
The new CFPC will be earned by the producer, rather than the blender of renewable fuel.
But despite the looming start date, greenhouse gas feedstock scoring has yet to be fully resolved under the CFPC, and it remains unclear whether the credit will apply to fuels produced from feedstocks sourced outside of the US.
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