This bill modifies the sales or use tax refund for biodiesel production in Iowa by increasing the designated refund rate from four cents to five cents per gallon. The refund amount is calculated based on the total number of gallons of biodiesel produced by the biodiesel producer in the state during each quarter of the calendar year.

Additionally, the bill extends the repeal date of this refund provision from January 1, 2028, to January 1, 2031. These changes aim to provide greater financial support to biodiesel producers in Iowa, encouraging the growth of the biodiesel industry within the state.

Statutes affected:
Introduced: 423.4