State Boost for Ethanol
The Illinois General Assembly’s spring session wassuccessful for ICGA as the state legislature passed retail tax incentives for higher blends of ethanol.
The ethanol tax incentives reduce the percentage of retail sales tax on E15 blends of gasoline by 10 percent; mid-range blends by 20 percent; and reauthorizes the 100 percent reduction of sales tax for E85. The tax incentives will sunset on December 31, 2028.
“We thank the Illinois General Assembly and Governor Pritzker for supporting the ethanol industry and corn farmers through this legislation,” said IL Corn Director of Public Policy Brad Stotler. “We were excited to see the retail tax incentives, which have been in the works for many years, make it across the finish line.”
The provisions were initially introduced inlegislation sponsored by Senator Pat Joyce (D-Essex), and ultimately included in the revenue omnibus package (SB 1963). “When the demand for ethanol-based fuel goes up, we see the demand for Illinois corn rise as well,” said Joyce (D- Essex). “This new tax structure will not only help farmers, but it is also better for our environment.”
Wins for Waterways
Illinois farmers will also benefit from improvements to the states waterways systems, as this spring ICGA helped break ground at a brand-new 1,200-foot Lock 25 near Winfield, MO. The river infrastructure improvements come after decades of advocacy, education, and diligence.
This important advancement would not be happening without the partnership of the Waterways Council, Inc, as well as the coalition members who have joined corn farmers in pursuit of upgraded river infrastructure along the way. Many thanks to the MidAmerica Carpenters Regional Council for their tireless advocacy for the jobs this project will provide as well as the conservation groups that joined our voices asking for environmental restoration to accompany this project.
Click here to see more...