COLUMBUS – The Ohio House has passed House Bill 165, to create a temporary, non-refundable tax credit on sales of E15 and higher blended biofuels Wednesday.
The bill, sponsored by State Representative Riordan McClain (R-Upper Sandusky), will create a tax credit of five cents per gallon.
“Government can and should protect free markets, and when necessary work to create free markets. This bill will allow Ohioans increased choice at the pump and hopefully more demand for Ohio-based products,” said McClain.
McClain notes that the legislation is meant to offset these barriers and sunset the credit after four years to allow consumers to navigate a free marketplace of fuel choices that they require.
“Cheaper, cleaner, renewable, and importantly for us, locally grown and produced. We can help level the playing field for our local Ohio growers and refiners with this legislation.” McClain added.
For the Ohio fuel consumer, E15 has its advantages as it is on average five to 10 cents per gallon cheaper than non-blended or lower blended fuels. Additionally, E15 burns cleaner with lower emissions versus lower blended fuels and corn turned into biofuel is a renewable energy source.
The bill passed by a House vote of 85-0 and now heads to the Ohio Senate for consideration.