State Rep. Riordan McClain (R-Upper Sandusky) announces the introduction of House Bill 165, which would create a temporary, non-refundable tax credit on the sale of E15 and higher blended biofuels of 5 cents per gallon.
“Ohio is the 8th highest corn producing state and home to 7 ethanol refineries who purchase much of our local corn yield for use in ethanol production,” said McClain. “However, if you try to purchase high-blend biofuel at the pump, Ohio ranks much lower in consumer availability due to the control of the marketplace.”
McClain notes that the legislation is meant to offset those market barriers and sunset the credit after four years to allow consumers to navigate a free marketplace of fuel choices.
For the Ohio fuel consumer, E15 has its advantages as it is on average 5-10 cents per gallon cheaper than non-blended or lower blended fuels. Additionally, E15 burns cleaner with lower emissions versus lower blended fuels and corn turned into biofuel is a renewable energy source.
“Cheaper, cleaner, renewable, and importantly for us, locally grown and produced. We can help level the playing field for our local Ohio growers and refiners with this legislation.” McClain added.
This legislation was previously introduced by McClain during the previous General Assembly. Currently, the bill has 13 cosponsors, the support of numerous advocacy groups, and is awaiting its committee assignment.
This bill and others may be tracked by visiting: www.legislature.ohio.gov/legislation/search