New statewide biofuels tax credit could help Indiana farmers grow demand

In Missouri, Brownfield reported that the Indiana Senate has passed a bill that would give biofuel tax credits to fuel retailers across the state.

The report noted that the Indiana Corn Growers Association President Chris Cherry said Senate Bill 254 would help increase demand for corn. 

“It’s huge for Indiana farmers,” he said. “It helps retailers build up their infrastructure so that they are able to handle more E-15 and biodiesel that will overall benefit Indiana corn and soybean farmers.”

He also noted that biofuels expand market opportunities for corn growers. “About 46% of corn raised in Indiana by farmers like myself go to ethanol,” he said. “We would use about 50% more corn.”

The bill now moves to the House of Representatives for consideration, the report added.

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