Wisconsin Legislature Approves Tax Credits for Biofuel Plant
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The Wisconsin Legislature has approved legislation authorizing tax credits to support a proposed aviation biofuel plant in Hayward with broad bipartisan support. The bill now moves to Gov. Tony Evers.
The bill was introduced by Rep. Chanz Green (R-Grandview) and Sen. Mary Felzkowski (R-Tomahawk). It will make available $120 million in tax credits to support the plant, which has been proposed by Johnson Timber of Hayward and Synthec Fuels, a German biofuels company. The technology uses wood biomass as a raw material for the fuel.
The early market for the fuel is the European Union, where regulations will phase in requirements for sustainable aviation fuel (SAF). The legislation requires 80% use of Wisconsin-sourced wood during the plant’s first five years.
Green said he introduced the legislation because it “not only revives Wisconsin’s timber markets after years of decline, but will also bolster thousands of jobs across Northern Wisconsin.”
The legislation was supported by the Wisconsin Council on Forestry, a diverse group from the forestry world that is charged with advising the state government.