Iowa Renewable Fuels Infrastructure Program
The Iowa Renewable Infrastructure Program is designed to assist retail operators of motor fuel dispensing sites or fueling stations in the conversion of their equipment to allow the expanded use of renewable fuels in Iowa. The program utilizes grant incentives to encourage these upgrades.
Reimbursement can be for 50% of the costs for specific components of a project with a three year commitment required to sell certain renewable fuels. A five year commitment to store and sell renewable fuels and install certain equipment can result in up to 70% reimbursement for specific equipment or installation costs. Heat biodiesel terminal equipment and/or infrastructure can receive funding for up to $100,000 per project.
The grant program is managed by Harold Hommes, Iowa Department of Agriculture and Land Stewardship (IDALS), PH: (515) 242-6237, harold.hommes@iowaagriculture.gov.
Application
Applications to be considered at the February meeting must be received by January 20, 2012.
E85 Retailer Tax Credit
A tax credit is available to retail stations who dispensing E85 for use in motor vehicles in the amount of $0.20 per gallon for calendar years 2009 and 2010. The tax credit will then be decreased to $0.10 per gallon in calendar year 2011. After 2011, the tax credit decreases by $0.01 per year and expires after December 31, 2020. Taxpayers claiming the E85 tax credit may also claim the tax credit available for retail ethanol blends for the same tax year and same gallon of fuel. (Reference Iowa Code 422.11O)
Ethanol Retailer Tax Credit
The Ethanol Promotion Tax Credit provides a $0.065 tax credit to any retailer who meets the Iowa renewable fuel standard (RFS) schedule each year. For retailers within 2% and 4% of meeting the RFS schedule, the tax credit will be $0.045 and $0.025, respectively, for every gallon of ethanol sold. (Reference Iowa Code 422.11N and 422.33)
Blender Pump Grants Available
Little Sioux Corn Processors Offering Assistance to Retailers
MARCUS, IA –Little Sioux Corn Processors (LSCP) is now offering financial assistance to retailers who install blender pumps in northwest Iowa. The LSCP board of directors is making $150,000 available to retailers to offset the cost of blender pump installations. LSCP is a 108 million gallon ethanol refinery located in Marcus, IA.
“There is a strong need for E85 and mid-level blends in this area,” said Ron Wetherell, LSCP Chair. “Little Sioux’s board decided that in order to expand the availability of high blend ethanol to Northwest Iowa motorists, they needed to get involved by investing in future markets for ethanol.”
LSPC will provide $15,000 per blender pump installation for a total of 10 blender pumps in counties in the northwest corner of the state (Buena Vista, Cherokee, Clay, Dickinson, Ida, Lyon, O’Brien, Osceola, Plymouth, Sac, Sioux, and Woodbury).
Retailers wishing to apply for LSCP’s grant program must submit an approved state or federal grant application and proof of completed blender pump installation to Gary Grotjohn at Little Sioux Corn Processors. Applications are subject to approval by the LSCP Board of Directors.
Assistance in completing a state or federal grant application is available through the Iowa Renewable Fuels Association (IRFA) by contacting Lucy Norton, IRFA Managing Director, at 515-252-6249.
LSCP is a farmer-owned dry mill ethanol facility located at 4808 F Avenue, Marcus, Iowa 51035.
For more information or In-State Contact
Contact the Iowa Corn Promotion Board and the Iowa Corn Growers Association, www.iowacorn.org, 515.225.9242.
Wayne Blender Pump Promotion Program
Wayne (Dresser Wayne has been purchased by GE and is now Wayne, A GE Energy Business) is offering up to $5,000 off their Ovation blender pump for retailers in the State of Iowa. This money can be combined with all other available funding from the State of Iowa and through the federal infrastructure tax credit. Those interested can contact their local Wayne distributor. Offer expires 10/31/2011.
