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Dr. Ronald P. Rogers CHIROPRACTOR Support for your body's natural healing capabilities 270-384-5554 Click here for details 
  
Columbia Gas Dept. GAS LEAK or GAS SMELL Contact Numbers 24 hrs/ 365 days 270-384-2006 or 9-1-1 Call before you dig 
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Companies encouraged to apply to Renewable Chemical Production Program From Lisa Tolliver Frankfort, KY - Kentucky companies can once again apply for the state's Renewable Chemical Production Program, Commissioner of Agriculture Dr. Ryan Quarles has announced. The program incentivizes the production of more than 30 specified chemicals derived from biomass feedstocks by giving eligible companies tax credits for their capital investment, job creation, and renewable chemical production. "Creating economic incentives to encourage companies to produce environmentally sustainable products provides positive pathways for our world," Commissioner Quarles said. "Agriculture is already a very conservation-minded industry. But, thanks to this law our agribusinesses may find ways to make new products out of agricultural crops and residues." The program will share tax credits previously established for renewable diesel or bio-diesel production in the commonwealth. The total amount of tax credit shall be five cents per molecular pound of weight of renewable chemicals produced in Kentucky by an eligible business, unless the total amount of approved credits for all taxpayers exceeds the annual cap of $10 million for the program. Kentucky developed the program to capitalize on its resources and infrastructure and to support the growth of the renewable chemical manufacturing industry. It addresses the unique opportunity to advance the state's economy by utilizing biomass feedstocks for the production of environmentally sustainable products. For the renewable chemical production tax credit, the bill, which was passed by the Kentucky legislature in 2020, states eligible renewable chemicals are limited to building block chemicals with a biobased content percentage of at least 50 percent, except for chemicals sold or used for the production of food, feed, or fuel. Program eligibility requirements for renewable chemicals, creation of jobs, or investment of new capital related to renewable chemical production, and reporting requirements for eligible companies are established by 302 KAR 4:010. The Kentucky Department of Agriculture will help administer the program, coordinating with the Kentucky Department of Revenue in awarding the tax credits to eligible companies producing renewable chemicals. To be eligible for the renewable chemical production tax credit, a business must:
Complete applications along with the required $500 compliance fee must be filed with the Kentucky Department of Agriculture by Jan. 15, 2023. To learn more about the tax credit rate calculation, visit the Kentucky Department of Revenue's website: https://revenue.ky.gov/Business/Pages/RenewableChemicalProductionTaxCredit.aspx. This story was posted on 2022-12-23 08:41:03
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ACPL closed Friday T.J. Regional Health Closures for Friday Adair County Farm Bureau South closed on Friday Genealogy center closed through Monday Clock ticking toward drastic weather change Motorists advised to avoid travel during peak storm activity First and Farmers National Bank hours for Friday Extension Office closed until January 3, 2023 Preparing for the freezing temperatures Winter storm safety and hypothermia information View even more articles in topic News |
 
115 Jamestown St. Columbia, KY. 270-384-2496 
  
   
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