Bill > S2987

This bill, the Agricultural Biorefinery Innovation and Opportunity Act of 2023, amends the Farm Security and Rural Investment Act of 2002 to improve assistance for biorefineries, renewable chemicals, and biobased product manufacturing. It expands the types of projects eligible for loan guarantees and grants, including those focused on advanced biofuels (like ultra-low-carbon and zero-carbon bioethanol), renewable chemicals, and biobased products. The bill also establishes a priority scoring system for grant applications, considering factors like potential market, financial participation, innovative use of feedstocks, rural economic development, and contribution to domestic energy security. Additionally, it increases the authorized funding levels for these assistance programs through 2028.