Mon Dec 22, 2014 08:43 AM CST

STREATOR, Ill. (DTN) -- President Barak Obama signed into law Friday, Dec. 19, tax credits retroactive for all of 2014 which includes a $1 gallon credit for blending biomass-based diesel into petroleum-based diesel fuel.

The incentives, which run through Dec. 31, include the biodiesel and renewable diesel fuels credit, second generation biofuel producer tax credit, special depreciation allowance for second generation biofuel plant property, and alternative fuel and alternative fuel mixture excise tax credit. All four credits expired Dec. 31, 2013.

"The biomass-based diesel industry has proven that it provides substantial benefits for energy security, food security, job creation and ...

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