§ 105-129.16F. (Effective for taxable years beginning on or after January 1, 2008, and repealed for taxable years beginning on or after January 1, 2010) Credit for biodiesel producers. - North Carolina Statutes

§ 105‑129.16F. (Effective for taxable years beginning on or after January 1, 2008, andrepealed for taxable years beginning on or after January 1, 2010) Credit forbiodiesel producers.

(a)        Credit. – Abiodiesel provider that produces at least 100,000 gallons of biodiesel duringthe taxable year is allowed a credit equal to the per gallon excise tax theproducer paid under Article 36C of this Chapter on the biodiesel. For thepurposes of this section, "biodiesel" is liquid fuel derived in wholefrom agricultural products, animal fats, or wastes from agricultural productsor animal fats. The credit does not apply to tax paid on diesel fuel includedin a biodiesel blend. The credit may not exceed five hundred thousand dollars($500,000) and is subject to the limitations of G.S. 105‑129.17.

(b)        Sunset. – Thissection is repealed for taxable years beginning on or after January 1, 2010. (2006‑66, s. 24.8(a).)