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Committee adopts amendment removing state buyback from tax-credit package for renewable fuel project; bill then passed as amended
Summary
House Bill 1303 — a tax-incentive package tied to Natural State Renewables' planned sustainable aviation fuel plant — was amended in committee to remove a state buyback of credits and to prohibit sale of those credits; DFA said the amended proposal remains revenue neutral under its scoring and the committee passed the amended bill.
The Revenue & Tax Committee considered House Bill 1303, a tax-credit package tied to a proposed renewable-fuel plant by Natural State Renewables, and approved a substantive amendment that removed a state buyback option for certified tax credits and limited transferability.
Senator Matt Stone introduced the amendment and described its effect: "what this amendment is gonna do, it's gonna relieve the state of this obligation to buy back tax credits, and it also has it removes it to where the tax credits cannot be sold," Stone said. Paul Gehring of the Department of Finance and Administration…
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