Iowa SSB3102 modifies the sales or use tax refund for biodiesel production, increasing it from 4 cents to 5 cents per gallon and extending the refund.

Iowa SSB3102 amends the sales or use tax refund for biodiesel production by increasing the refund rate from 4 cents to 5 cents per gallon. This change affects biodiesel producers in Iowa, who will now receive a higher refund for each gallon of biodiesel they produce. Additionally, the bill extends the repeal date of this refund from January 1, 2028, to January 1, 2031. The refund amount is calculated by multiplying the designated rate by the total number of gallons of biodiesel produced by the producer in the state.

Iowa SSB3102 modifies the sales or use tax refund for biodiesel production, increasing it from 4 cents to 5 cents per gallon and extending the refund.

Iowa SSB3102 amends the sales or use tax refund for biodiesel production by increasing the refund rate from 4 cents to 5 cents per gallon. This change affects biodiesel producers in Iowa, who will now receive a higher refund for each gallon of biodiesel they produce. Additionally, the bill extends the repeal date of this refund from January 1, 2028, to January 1, 2031. The refund amount is calculated by multiplying the designated rate by the total number of gallons of biodiesel produced by the producer in the state.