WASHINGTON, D.C. (RFD NEWS) — The U.S. Treasury and IRS have released long-awaited guidance on the 45Z Clean Fuel Production Credit, signaling a major shift in how the federal government incentivizes domestic renewable energy production. The guidance aims to support U.S. agriculture while promoting cleaner fuels like corn ethanol and soy biodiesel.
Roger McEowen with the Washburn School of Law joined us on Monday’s Market Day Report to break down the new rules.
In his interview with RFD NEWS, McEowen outlined key points, including the North American mandate that protects domestic agriculture and the removal of indirect land-use change penalties, which lowers the “entry bar” for corn and soybean producers.
McEowen also addressed concerns around farm data privacy, explaining the role of the “qualified certifier” and who has access to the information submitted. He discussed challenges around carbon capture technology, noting that while the technology exists at ethanol plants, infrastructure and permitting remain bottlenecks to moving CO₂ efficiently.
For farmers, McEowen emphasized key considerations as they plan operations under the new guidance, including eligibility requirements and compliance considerations.
READ MORE: Firm to Farm: Proposed I.R.C. §45Z Regulations
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With 2023 projected to be a difficult year for agricultural producers, Chapter 12 filings may increase. One of the requirements to get a Chapter 12 reorganization plan approved is that be filed in “good faith.” In this blog post, RFD-TV Legal Contributor Roger A. McEowen explains exactly what farmers need to know about the process.
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The “farm products rule,” and the 1985 Farm Bill modification and its application – that is the topic of today’s blog post from Agri-Legal Expert Roger McEowen.
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