Bio-Heating Oil Credit

Senate Bill 959 (Chapter 566, Acts of 2011)

The Act expands the credit for bio-heating oil and extends the termination dates for the credit. The Act amends Section 10-727(a)(3) to provide that bio-heating oil means a heating oil derived from the U.S. Environmental Protection Agency approved feedstocks, or accepted under 42 U.S.C. 7545(O) as per the U.S. EPA Renewable Fuel Standard 2 (RFS2) and the accompanying regulations under 40 C.F.R. Part 80 for diesel fuel replacement.

The Act further extends the credit until December 31, 2017. The credit now abrogates without further action on June 30, 2018.

Effective Date: This Act shall take effect June 1, 2011, and is applicable to all tax years 2008 through 2017.