Credit for sale of blended biodiesel
Sec. 10. (a) A taxpayer that:
(1) is a dealer; and
(2) distributes at retail blended biodiesel in a taxable year;
is entitled to a credit against the taxpayer's state tax liability.
(b) The amount of the credit allowed under this section is the
product of:
(1) one cent ($0.01); multiplied by
(2) the total number of gallons of blended biodiesel distributed
at retail by the taxpayer in a taxable year.
(c) The total amount of credits allowed under this section may not
exceed one million dollars ($1,000,000) for all taxpayers and all
taxable years.
(d) A credit under this section may not be taken for blended
biodiesel distributed at retail after December 31, 2006.
As added by P.L.224-2003, SEC.199. Amended by P.L.191-2005,
SEC.8.
Last modified: May 28, 2006