December 21, 2015
By:
Walter G. Wright
Category:
Arkansas Environmental, Energy, and Water Law
Arkansas Environmental, Energy, and Water Law
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The Arkansas Oil Marketers Association publication Update (December 18th) notes Congress’ approval of nearly a $1.8 trillion tax and spending package that includes the extension of various energy related tax incentives.
Energy related incentives include:
- $1.00 per-gallon biodiesel blender’s tax credit
- 30% investment tax credit for alternative fuel pumps
- Extension of wind and solar tax credits (5 years on a declining scale)
The Update also notes that the omnibus spending bill includes:
- $8.1 billion for the United States Environmental Protection Agency
- $92 million for the Federal Leaking Underground Storage Trust Fund
- $3.39 billion for the Low Income Home Energy Assistance Program
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