S. 1154 would promote biogas production.
Detailed Summary
Biogas Production Incentive Act of 2007 - Amends the Internal Revenue Code to allow a business tax credit for the production and sale of biogas. Defines "biogas" as a gas that is derived by processing qualified energy feedstock (i.e., manure of agricultural livestock and other waste material) in an anaerobic digester and which contains at least 60% methane and carbon dioxide and trace gases.
Amends the Farm Security and Rural Investment Act of 2002 to direct the Secretary of Agriculture to: (1) use Commodity Credit Corporation funds for making countercyclical payments to qualified biogas producers for biogas production facilities placed in service before December 31, 2013; and (2) make loans, loan guarantees, and grants to providers of qualified energy feedstock for collecting and transporting such feedstock to a biogas facility or for the purchase or construction of equipment of facilities for such collection and transportation activities.
Status of the Legislation
Latest Major Action: 4/18/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.
Points in Favor
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Points Against
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Visitor Comments
Mikey
I hope this Bill offers something more than additonal subsidies to corn farmers. If you are making ethanol, corn is about the most inefficient thing you can use. Sugarcane, wheat grass, and even trees (technology permitting) are, or will be, much more efficient than corn-based ethanol. As of now, ethanol subsidies are a "Farmer Welfare Program" rather than Environmentally sound legislation.
Mel Kurtz
This Bill is encouragement for companies to take a risk betting that legislators are serious about renewable energy. And you don't receive the benefit unless you perform. I like it!
Norma McDonald
This Bill uniquely targets two key environmental challenges - manure management and renewable energy. The modest incentive will help provide sufficient ROR so that farmers can get financing for the projects.