COLUMBUS, OH (CRAWFORD COUNTY NOW)—The Ohio House of Representatives has passed House Bill 324, a measure that introduces a temporary non-refundable tax credit of 5 cents per gallon on sales of E15 and higher blended biofuels. The bill, championed by State Representatives Riordan McClain (R-Upper Sandusky) and Roy Klopfenstein (R-Haviland), aims to increase the availability of this cost-saving, Ohio-produced fuel across the state.
The tax credit will be available to all businesses selling fuel containing at least 15% ethanol (E15). The incentive will expire once $10 million has been credited or after four years, whichever comes first.
“E15 is not a new product, but its availability has been suppressed since it entered the market,” said McClain. “We hope that this temporary tax credit will boost its availability across Ohio.”
Despite being among the top 10 states for ethanol production, most of the fuel produced in Ohio is exported to other states. Currently, only 60 stations in Ohio offer the fuel, compared to more than 2,300 stations nationwide.
“Ohio is home to seven ethanol plants, one of which is in my district. It provides great paying jobs for more than 40 people and produces 90 million gallons of bioethanol each year,” said Klopfenstein. “Ethanol is three to 10 cents cheaper per gallon than traditional fuel, and nine out of 10 cars can use it.”
House Bill 324 passed with strong bipartisan support and now moves to the Ohio Senate for further consideration.