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North Dakota’s agriculture and energy sectors are celebrating a “double win” this week after the federal government released long-awaited rules for clean fuel tax credits that prioritize American-grown crops. Officials tell the North Dakota Monitor that this brings some much-needed certainty.
The U.S. Treasury’s proposed guidelines for the 45Z Clean Fuel Production Credit provide a clear “points system” for biofuels. Producers can now earn higher tax credits, which are estimated at 50 to 60 cents per gallon for soybean-based diesel, by using feedstocks grown in North America and adopting “climate-friendly” farming practices like no-till and cover cropping.
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