Biofuel Tax Break Is Extended

Helps Residents Stay Warm, Go Green

Gov. Andrew Cuomo recently signed into law Assemblyman Andrew Hevesi’s bill to expand a homeowner’s income credit that encourages the use of environmentally responsible biofuels for home heating.

Biofuels, which are formed by the fermentation of crops into alcohol known as bioethanol, or by creating biodiesel from substances such as vegetable oil, have a common characteristic of significantly reduced levels of the environmentally harmful carbons that contribute to climate change.

In an effort to encourage the usage of these environmentally responsible fuels, Hevesi’s bill (A.8818) extended a tax credit for homeowners. Greater usage of biofuels will additionally help stabilize the cost of fossil fuels during peak energy consumption seasons. The extension of the clean heating fuel credit will continue until 2017.

“Encouraging the use of renewable and environmentally responsible en- ergy and protecting against the contamination of our precious natural resources should always be a top priority for governmental officials in this state,” Hevesi said. “I would like to applaud my colleagues in the Assembly, supporting members in the Senate, and the governor for helping to extend the clean heating fuel credit until 2017. The benefits of this act will both protect consumers from spiking fuel prices in peak seasons, and encourage greater usage of environmentally responsible biofuels.”

Hevesi serves as the chairperson of the Assembly Subcommittee on Renewable Energy.

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