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Renewable energy programs get boost in Senate JOBS bill (Thursday, May 13, 2004 -- CropChoice news) -- The U.S. Senate earlier this week included provisions for ethanol, bio-diesel and wind power in its passage of the Jumpstart Our Business Strength (JOBS) Act (S 1637).
Sen. Grassley attached provisions that extend the ethanol production incentive through 2010, simplify the incentive with the Volumetric Ethanol Excise Tax Credit (VEETC) and extend the Production Tax Credit (PTC) for wind generated electricity.
A Renewable Fuel Standard did not make it into the bill.
The Volumetric Ethanol Excise Tax Credit (VEETC) was attached to S.1627 which passed the U.S. Senate by a vote of 92 to 5. VEETC extends the ethanol tax credit to 2010, adds as much as $2 billion to the Highway Trust Fund (HTF), simplifies the system used to implement the incentive and makes all ethanol eligible. The Production Tax Credit (PTC) for wind generated electricity expired last December. A provision in the JOBS Act extends the PTC.
Source: American Corn Growers Association (http://www.acga.org ).
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