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Renewable Chemical Tax Credit will spur economic growth

March 25, 2016
From: State Senator Steve Sodders - D-State Center , Toledo Chronicle, Tama News-Herald

Renewable Chemical Tax Credit will spur economic growth

(Des Moines) The Iowa Senate has approved legislation to create jobs and economic growth using the plant materials left over from the production of ethanol, biodiesel, and other biomass-based fuels.

Senate File 2300 creates a Renewable Chemical Production Tax Credit. The tax credit will encourage industries to turn organic byproducts from the biofuels industry into higher value chemicals used by a much broader group of businesses

Article Photos

State Senator Steve Sodders
D-State Center

"The U.S. chemical market is worth more than $250 billion a year. Currently, it's almost all based on crude oil and natural gas," said State SenatorSodders of State Center. "Iowa State University scientists believe Iowa bio-based chemicals can replace the petroleum used in many, many products."

The Renewable Chemical Production Tax Credit is capped at $10 million per year. The credit will first be available for chemicals produced between January 1, 2017, and December 31, 2026.

Nonpartisan legislative fiscal analysts have determined that the overall effect of the tax credit will be revenue-neutral.

"Iowa has lots of biomass feedstock that has value beyond using it for food and fuel," said Sodders. "Other Midwest states are in the same situation. This tax credit will encourage this budding industry to invest and grow in Iowa."

New initiatives

to protect crime victims

Several bipartisan bills moving through the Senate this session will make Iowa communities safer and ensure justice for crime victims.

House File 2265 ensures victims of domestic abuse, stalking, harassment and human trafficking don't have to divulge in court proceedings where they live, unless there is a hearing before a judge and the court determines their safety will not be compromised. This builds on Iowa's Safe At Home Act approved last year, allowing victims of stalking and abuse to use a confidential address through the Iowa Secretary of State's office

House File 2278 extends the statute of limitations for kidnapping and human trafficking of children to the victim's 28th birthday, or three years after a perpetrator is identified through DNA testing, whichever is later. This will bring justice for many more victims; the current statute of limitations for these crimes is only three years.

House File 2399 strengthens penalties for stalking and unauthorized placement of a GPS device, which are behaviors that often accompany the violence of an abuser. In the majority of domestic violence killings, stalking precedes the murder. In addition, the bill makes sure:

Abusers in prison face negative consequences if they refuse to participate in batterers' education.

Abusers are electronically monitored when on probation or parole.

The courts use risk assessments to determine proper sanctions for abusers.

House File 2420 will help bring perpetrators to justice and possibly exonerate those mistakenly convicted of rape. The Attorney General's Office will survey Iowa law enforcement to determine the number of stored rape kits throughout the state that have not been tested by Iowa's Crime Lab.

 
 
 

 

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