§ 15-4-2804 - Incentives for biodiesel producers. - Arkansas Statutes

15-4-2804. Incentives for biodiesel producers.

(a) The Alternative Fuels Commission may provide grants not to exceed ten cents (10cent(s)) per gallon of biodiesel fuel produced by a biodiesel producer who has met the qualifications prescribed by the commission under its regulations.

(b) The grants authorized by subsection (a) of this section shall be limited to the first five million (5,000,000) gallons of biodiesel fuel produced annually by a biodiesel producer qualified by the commission for a period not to exceed five (5) years.

(c) The grants authorized by subsection (a) of this section shall be disbursed from the Alternative Fuels Fund established under 15-10-701 [repealed] and from the Health Adequacy Committee Fund, 19-6-487 under the disbursement procedures to be established by the Department of Finance and Administration.

(d) The commission shall not authorize grants that exceed or may expect to exceed the balance of funds available or expected to be available in the fund.

(e) In the event the number of biodiesel producers qualified by the commission exceeds the balance of funds available to allow each qualified biodiesel producer to receive the maximum benefits under subsections (a) and (b) of this section, the commission shall suspend the qualification of additional biodiesel producers until such time as additional funds are available.