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Nebraska Ag News Headlines |
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Nebraska's LB 562: A Legislative Boost for E15 Fuel Availability
Nebraska Ag Connection - 06/05/2023
The legislative assembly in Nebraska recently approved LB 562, a transformative bill brought forward by Senator Myron Dorn, designed to significantly broaden the distribution of E15 fuel across the state.
The bill's stipulations would require gas stations and other fuel retail outlets throughout Nebraska to actively promote E15, mandating that it be dispensed from no less than 50% of the pumps at new facilities, and at over 80% of the pumps in existing stations.
However, there are exceptions in place for smaller fuel retail sites, which can apply for an exemption provided they submit a formal application to Nebraska's Department of Agriculture.
In a bid to incentivize the shift toward E15, the proposed legislation also seeks to offer heightened tax credits to fuel stations selling E15. Starting in 2024, these stations would receive a tax credit of 8 cents per gallon, up from the current 5 cents. This heightened credit is set to gradually diminish each year, reverting back to the original 5 cents per gallon by 2028.
Additionally, the bill proposes to raise the annual cap on these credits from $4 million to $5 million.
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