3/14/08-Gov. Mike Rounds has signed a bill into law that is intended to provide an incentive for purchasing diesel containing soybeans in the state.
The new law, previously SB148, calls for reducing the fuel tax on diesel that contains at least 5 percent biodiesel by 2 cents per gallon. The fuel tax applied to regular gasoline and diesel now is 22 cents per gallon. The bill trims the per-gallon tax on biodiesel to 20 cents.
The per-gallon tax on ethanol already is 20 cents.
Tax breaks will not start until biodiesel production capacity in the state reaches 20 million gallons annually. The tax break will end once production reached about 40 million gallons annually.
The tax break will be funded by transferring $800,000 this year from the state’s Petroleum Release Compensation Fund reserve to the Highway Trust Fund.

2/28/08-The House unanimously approved a bill that is intended to provide an incentive for purchasing diesel containing soybeans in the state. The fuel tax applied to regular gasoline and diesel now is 22 cents per gallon.
SB148 now moves to Gov. Mike Rounds’ desk. The Senate previously approved it by unanimous consent.
The bill would reduce the fuel tax on biodiesel by 2 cents per gallon.
Tax breaks would not start until biodiesel production capacity in the state reaches 20 million gallons annually. The tax break would end once production reached about 40 million gallons annually.
For bill status, call (605) 773-3251.

2/19/08-The House State Affairs Committee unanimously approved a bill that is intended to provide an incentive for purchasing diesel containing soybeans in the state. The fuel tax applied to regular gasoline and diesel now is 22 cents per gallon.
SB148 would reduce the fuel tax on biodiesel by 2 cents per gallon.
Tax breaks would not start until biodiesel production capacity in the state reaches 20 million gallons annually. The tax break would end once production reached about 40 million gallons annually.
The bill now moves to the House floor. The Senate previously approved it by unanimous consent.
For bill status, call (605) 773-3251.

1/31/08-A bill in the House State Affairs Committee is intended to provide an incentive for purchasing diesel containing soybeans in the state. The fuel tax applied to regular gasoline and diesel now is 22 cents per gallon.
SB148 – already approved by the Senate – would reduce the fuel tax on biodiesel by 2 cents per gallon.
Tax breaks would not start until biodiesel facilities reach a capacity of 20 million gallons annually and produce at least 10 million gallons annually. The tax break would end once production reached about 40 million gallons annually.
For bill status, call (605) 773-3251.

1/25/08-The Senate unanimously approved a bill that is intended to provide an incentive for purchasing diesel containing soybeans in the state. The fuel tax applied to regular gasoline and diesel now is 22 cents per gallon.
SB148 would reduce the fuel tax on biodiesel by 2 cents per gallon.
Tax breaks would not start until biodiesel facilities reach a capacity of 20 million gallons annually and produce at least 10 million gallons annually. The tax break would end once production reached about 40 million gallons annually.
The bill now moves to the House for further consideration. For bill status, call (605) 773-3251.

1/22/08-A bill in the Senate State Affairs Committee is intended to provide an incentive for purchasing diesel containing soybeans in the state. The fuel tax applied to regular gasoline and diesel now is 22 cents per gallon.
SB148 would reduce the fuel tax on biodiesel by 2 cents per gallon.
For bill status, call (605) 773-3251.