Assemblywoman Addie J. Russell announced
that legislation she authored to expand tax credits to include biofuels
produced from products that are abundant in the North Country passed the
Assembly (A.9525). The bill is aimed at bolstering the biofuel industry in the
North Country and providing a new source of income for local farmers and other
industries.
“The demand for cleaner, cheaper
power is strong and is an area of huge potential growth for the North Country,”
Assemblywoman Russell said. “By utilizing resources like wood and agricultural
waste, North Country businesses can lead the way in creating a new industry in
New York that keeps our fuel dollars here instead of shipping them overseas.”
The legislation expands a business tax
credit to biofuel producers. Current law provides a credit of $0.15 per gallon
of biofuel (B100) produced. The legislation passed today adds an additional
credit of $0.25 per gallon of cellulosic ethanol or renewable fuel oil produced
and provides a new credit of $15 per ton of densified biofuel.
Densified biofuel is solid fuel derived
by a mechanical densification and refining of biomass sourced from woody or
agricultural feedstocks, such as wood pellets used commonly in the North
Country. Manufacturers of wood pellets
may now be eligible for the tax credit.
Pellet stoves and boiler systems have become increasingly popular ways
to heat homes and commercial and governmental buildings.
Pat Curran of Curran Renewable
Energy in Massena said, “This bill is a strong step forward in enhancing the
business climate of the St. Lawrence Valley and counties throughout New York
State. It will give land owners an opportunity to see value in their low-grade
timber crops that they have been growing. The tax bill that Addie Russell supports
will help job growth in numerous ways beyond the agricultural and forest
sectors. It will help create stability and a bright future in an evolving
market.”
Eric Carlson President & CEO of the
Empire State Forests Products Association said, "This legislation strikes
at the heart of helping homeowners, schools, and businesses converting from
imported fossil fuels to locally sourced wood heating. New York has abundant
forests that need these markets to improve forest health using sustainable
forest practices"
Cellulosic ethanol is ethanol produced
from biomass feedstocks not used for food production, including cellulosic
components of separated food waste and byproducts from agricultural waste. Such biomass feedstocks may include include switch
grasses, willows, agricultural and forestry residues, clean wood and waste
woods, pulp and paper mill wastes or extracts, and non-recyclable paper.
“We already have companies in the North
Country producing these kinds of products that will be able to expand and
create jobs as the market grows,” Assemblywoman Russell said. “This legislation
is the boost needed to help this innovative domestic industry compete against
traditional fossil fuels.”
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