Ethanol-Blended Gasoline Tax Credit

This incentive is available to retail service stations at which more than 60% of gasoline sold and dispensed through one or more metered pumps is ethanol-blended beginning January 1, 2002. Eligible service stations will receive a tax credit of $0.025 (2.5 cents) per gallon for each gallon of ethanol-blended gasoline sold and dispensed through all metered pumps in excess of 60% of all gasoline sold. "Ethanol blended gasoline" is defined as "motor fuel containing at least 10% alcohol distilled from cereal grains." HF 689 (2003) amended Iowa Code § 422.11C and § 422.33 by changing the effective date of this credit to January 1, 2002. Previously, the effective date was tax years beginning on or after January 1, 2002. The deadline for claiming refunds of taxes, interest or penalties arising from this amendment was October 1, 2003.