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Senate Finance tweaks tax credit changes, keeps fuel volumetric allowance and adds biotech extension
Summary
Senate Finance amended SB26 to preserve a long‑standing 2% volumetric fuel allowance and to include a modest biotechnology refund extension while removing an electric lawn equipment credit to keep the bill near revenue neutrality.
Senate Finance moved Senate Bill 26 forward after agreement on an amendment that narrowed the bill’s original tax‑code changes.
What changed: Sponsors had proposed reducing the volumetric allowance for taxable gallons removed from fuel terminals from 2% to 1% and adding new or extended credits for residential energy storage and electric lawn equipment. After industry objections from convenience stores and fuel marketers, the committee adopted amendment L6 to retain the 2% volumetric allowance for…
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