BIO Thanks Rep. Scott Peters (D-CA) for Legislation to Extend Current Tax Policies

WASHINGTON--December 16, 2013: The Biotechnology Industry Organization (BIO) today expressed thanks to Rep. Scott Peters (D-Calif.) for introducing the Second Generation Biofuel Extension Act of 2013, which provides a one-year extension of the Second Generation Biofuel Producer Credit and the Special Allowance for Second Generation Biofuel Plant Property.

Brent Erickson, executive vice president of BIO’s Industrial & Environmental Section, noted, “On behalf of our member companies, I want to thank Representative Peters for this timely legislation. Extension of these tax provisions is needed to keep the playing field level for advanced biofuel companies commercializing innovative technologies. There are currently 48 commercial algae, renewable chemical and advanced and cellulosic biofuel biorefineries across the United States. These companies are driving employment and economic growth, while also creating a cleaner environment. Parity in the tax code with other technologies, including fossil fuels, will help grow their numbers.”