Bill > AB619

This bill establishes a tax credit for businesses manufacturing aviation biofuel, which is defined as biofuel used as aviation fuel, and biofuel, which is fuel created from wood sourced within the state. It extends the duration of an "enterprise zone designation," a program that offers tax benefits, from 12 to 20 years if an aviation biofuel business is operating within it. To qualify for this designation and tax benefits, a business must manufacture biofuel, with a majority of it being aviation biofuel, and provide a comprehensive feasibility study, a detailed business plan including letters of intent from suppliers and purchasers, and proof of financing. The bill also caps the total tax benefits a certified business can claim at $120,000,000.