Bill Text: NJ AR68 | 2016-2017 | Regular Session | Introduced
Bill Title: Urges President and Congress to enact tax credit for biodiesel fuel.
Spectrum: Partisan Bill (Democrat 2-0)
Status: (Introduced - Dead) 2016-01-27 - Introduced, Referred to Assembly Environment and Solid Waste Committee [AR68 Detail]
Download: New_Jersey-2016-AR68-Introduced.html
Sponsored by:
Assemblyman TROY SINGLETON
District 7 (Burlington)
SYNOPSIS
Urges President and Congress to enact tax credit for biodiesel fuel.
CURRENT VERSION OF TEXT
As introduced.
An Assembly Resolution respectfully urging the President and the Congress of the United States to enact a tax credit for biodiesel fuel.
Whereas, Biodiesel fuel is both energy efficient as a form of diesel fuel because it provides higher mileage per gallon than gasoline, and environmentally beneficial because it burns significantly cleaner than petroleum-based diesel fuel; and
Whereas, The federal government had enacted a tax credit on biodiesel fuel which expired in 2010, precipitating financial losses for the biodiesel industry, plant closures, and numerous layoffs; and
Whereas, When the tax credit was reinstated in 2011 biodiesel production and employment in the industry increased, but the tax credit has expired again; and
Whereas, In this difficult economy, more people are choosing to drive diesel vehicles to economize on the cost of motor vehicle fuel; and
Whereas, The State of New Jersey and other states continue to need to strive to meet federal Clean Air Act requirements concerning air pollution in general and particulate matter emissions from diesel-powered vehicles in particular; and
Whereas, Currently there is concern in the State of New Jersey that there is not an adequate supply of biodiesel fuel or an adequate number of manufacturers of biodiesel fuel in the State, and this concern may be shared by other states with respect to their own biodiesel fuel supplies and number of manufacturers; and
Whereas, The federal tax credit for biodiesel is a proven incentive for companies to invest in the production of biodiesel and create much needed jobs in the industry; now, therefore,
Be It Resolved by the General Assembly of the State of New Jersey:
1. The President and the Congress of the United States are respectfully urged to enact a tax credit for biodiesel fuel that will promote job creation, economic growth, energy conservation, and environmental benefits.
2. Copies of this
resolution, as filed with the Secretary of State, shall be transmitted by the
Clerk of the General Assembly to the President and Vice President of the United
States, the Majority Leader and Minority Leader of the United States Senate,
the Speaker, Majority Leader and Minority Leader of the United States House of
Representatives, and every member of the United States Congress elected from
this State.
STATEMENT
This resolution respectfully urges the President and the Congress of the United States to enact a tax credit for biodiesel fuel that will promote job creation, economic growth, energy conservation, and environmental benefits.
