Nebraska Incentives and Laws for Other
The list below contains summaries of all Nebraska incentives and laws related to Other.
State Incentives
Cellulosic Ethanol Investment Tax Credit
A qualified investor may receive a tax credit of up to 40% of an investment in a small business that is improving, researching, developing, or producing a proprietary product, process, or service related to cellulosic ethanol. A qualified investor is an individual, trust, or pass-through entity that meets certain requirements set by the Nebraska Department of Economic Development. An eligible small business must employ up to 25 individuals, be headquartered in Nebraska, and employ over half of its employees in the state or have over half of its total payroll paid or incurred in the state. Up to $3 million in tax credits is available annually, and up to $1 million in tax credits is available for a single qualified small business. Tax credits are available until 2017. (Reference Legislative Bill 389, 2011)
Biodiesel Production Investment Tax Credit
Investors in Nebraska biodiesel production facilities are eligible to receive a tax credit of 30% of the amount invested in the facility between January 1, 2008, and January 1, 2015, not to exceed $250,000. The credit is only available for facilities that produce B100, perform all processing in Nebraska, and are at least 51% owned by Nebraska individuals or entities. The state may reclaim the tax credit if the biodiesel production facility remains in operation for less than three years. B100 is a pure biodiesel containing mono-alkyl esters of long chain fatty acids derived from vegetable oils or animal fats that meets ASTM standard D6751. (Reference Nebraska Statutes 77-27,236)
Laws and Regulations
Advanced Biofuels Strategic Plan
The Natural Resources Committee of the Legislature (Committee) worked with Bio Nebraska, a nonprofit corporation, to develop a five-year strategic plan to grow the bioscience industry in the state. The Nebraska Bioscience Roadmap 2010 includes recommendations related to the development of advanced biofuels. The Committee will prepare and present annual updates on the strategic plan to the Legislature. (Reference Nebraska Statutes 50-501)
Regional Biofuels Corridor
Nebraska joined Indiana, Iowa, Kansas, Michigan, Minnesota, North Dakota, South Dakota, and Wisconsin in adopting a cooperative initiative under the Energy Security and Climate Stewardship Platform Plan (Platform). The Platform establishes a regional biofuels corridor program and directs state transportation, agriculture, and regulatory officials to develop a system of coordinated signage across the Midwest for biofuels and advanced transportation fuels and to collaborate to create regional E85 corridors. The program requires standardized fuel product coding at fueling stations as well as increased education for retailers about converting existing fueling infrastructure to dispense E85.