Iowa HF2071 modifies the sales or use tax refund for biodiesel production, increasing it from 4 cents to 5 cents per gallon and extending the repeal.

Iowa HF2071 amends the sales or use tax refund for biodiesel production by raising the refund rate from 4 cents to 5 cents per gallon. The refund is calculated by multiplying the designated rate by the total number of gallons of biodiesel produced by the biodiesel producer in the state. The bill also extends the repeal date of this refund from January 1, 2028, to January 1, 2031.

Iowa HF2071 modifies the sales or use tax refund for biodiesel production, increasing it from 4 cents to 5 cents per gallon and extending the repeal.

Iowa HF2071 amends the sales or use tax refund for biodiesel production by raising the refund rate from 4 cents to 5 cents per gallon. The refund is calculated by multiplying the designated rate by the total number of gallons of biodiesel produced by the biodiesel producer in the state. The bill also extends the repeal date of this refund from January 1, 2028, to January 1, 2031.