Bill > HR6413

This bill, the Agricultural Biorefinery Innovation and Opportunity Act of 2023, aims to improve the Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance program under the Farm Security and Rural Investment Act of 2002. The key provisions include: 1) expanding the program to assist in developing advanced biofuels, renewable chemicals, and biobased product manufacturing; 2) providing loan guarantees and competitive grants to eligible entities for the development, construction, or retrofitting of pilot or demonstration-scale biorefineries; 3) establishing criteria for evaluating grant applications, including the project's market potential, level of financial participation, use of innovative feedstocks or technologies, and potential for rural economic development; and 4) authorizing $100 million in funding for the program for each fiscal year from 2024 to 2028.