Thu Feb 13, 2014 02:42 PM CST

STREATOR, Ill. (DTN) -- U.S. Senators Charles Grassley, R-Iowa, and Maria Cantwell, D-Wash., introduced a bill Wednesday to extend the expired biodiesel $1 gallon tax credit.

S. 2012 would extend the tax incentive until 2017, providing "certainty the industry needs to gain access to capital and plan for production expansions and additional hiring," according to a news release issued Thursday by the National Biodiesel Board.

The incentive covers not only biodiesel but renewable diesel, both qualifying under the Renewable Fuel Standard as biomass-based diesel. The credit, first implemented in 2005, expired at the end of last year, the third time ...

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