Kentucky opens applications for Renewable Chemical Production Program

In Kentucky, WTVQ reports the agriculture commissioner announced companies may now apply to participate in the Renewable Chemical Production Program which provides tax credits for more than 30 specified biomass-based chemicals. Legislation for the program was passed by the state legislature in 2020 and aims to provide up to $10 million in tax credits annually expanding the previous program that supports renewable diesel and biodiesel. In order to qualify for the tax credit, for-profit companies must be physically located in the state and create new jobs, amongst other conditions.

Category: Policy