Klopfenstein seeks ethanol tax credit

VW independent staff

COLUMBUS — State Representative Roy Klopfenstein (R-Haviland) has introduced legislation that will create a temporary non-refundable tax credit on sales of E15 and higher blended biofuels of 5 cents per gallon.

The credit will be available to all businesses selling fuel containing at least 15 percent ethanol (E15). The tax credit will sunset when either $10 million is credited or four years have passed.

“Ohio is the eighth highest corn producing state in the nation. We are home to seven ethanol refineries that purchase roughly 40 percent of our local corn production, and we’re in the top 10 states of ethanol production,” Klopfenstein said. “However, if you try to purchase high blend ethanol fuel, we rank much lower in consumer availability.”

“In 2021, Ohio ranked 49th in ethanol blend rates among the states,” he continued. “The benefits of high blend ethanol fuels are numerous. On average, they are 5-10 cents per gallon cheaper than non-blended or lower blended fuels for consumers and burn cleaner with lower emissions than non-blended or lower blended fuels.”

House Bill 324 awaits its first hearing in the House Ways and Means Committee.

Klopfenstein represents the 82nd House District, which includes all of Paulding, Putnam and Van Wert counties and the southern portion of Defiance County.