Agriculture Environmental Stewardship Act of 2016 Introduced in U.S. House to Create Tax Incentive for Investments in Biogas and Nutrient Recovery

Bion Environmental Technologies Inc. (OTCQB:BNET) announced that H.B. 5489, the Agriculture Environmental Stewardship Act of 2016, was introduced in the U.S. House Ways and Means Committee on Space, Science and Technology. The Act, if adopted, will allow biogas properties and qualified manure resource recovery properties to be eligible for the federal energy credit (30% Investment Tax Credit – ITC) and to permit new clean renewable energy bonds to finance qualified biogas properties.
As quoted in the press release:

Among the Findings in the Bill:

• Incentives and encouragement for the conservation and appropriate handling of nutrients contained in organic matter are necessary.
• Biogas systems will save Federal, State, and local taxpayers money by converting waste into useful products, such as fuel, fertilizer, thermal heat, feedstock for hydrogen fuel cells, and renewable chemicals.
• Manure resource recovery systems will save Federal, State, and local taxpayers money by recovering the nutrients contained in organic matter from their source, rather than recovering the nutrients after they have entered landfills or waterways.

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