IRFA Lauds Renewable Fuels Infrastructure Funding
May 17, 2016 - Issue #217View Full Issue
Iowa Governor Terry Branstad recently signed into law H.F. 2464, a multifaceted bill that secures funding for the state’s highly successful biodiesel and ethanol blender pump program, the Iowa Renewable Fuels Infrastructure Program, through June 30, 2017.
“We applaud Gov. Branstad and the Iowa Legislature for securing funding to keep the renewable fuels infrastructure program going for another year,” stated Iowa Renewable Fuels Association (IRFA) Policy Director Grant Menke. “While we remain focused on finding a long-term funding solution, this bill will allow us to continue to build upon the momentum that was sparked by the USDA’s Biofuels Infrastructure Partnership program, and ensure that Iowans have greater access to lower-cost, locally-produced renewable fuels blends.”
The IRFA recently reported interest amongst Iowa retailers in offering renewable fuels is at an all-time high. The most recent Iowa Renewable Fuels Infrastructure Board meeting set records by awarding 68 projects with $3.2 million in state grants to upgrade infrastructure to offer higher blends of ethanol and biodiesel. With today’s signing, the RFIP has secured funding through the state’s next fiscal year, ending June 30, 2017.
The Iowa Renewable Fuels Infrastructure Program (RFIP) offers cost-share grants to Iowa retailers wishing to upgrade fueling infrastructure to offer registered E15, E85 and/or biodiesel blends. Reimbursement can be up to 70 percent of the installation costs, up to a maximum of $50,000 per project, with a five-year commitment to sell registered E15, E85 or biodiesel blends. For more on the program, please click here.