Learn how farmers can use Regen practices to capitalize on lower CI score!
The 45Z tax credit, authorized last year in the Inflation Reduction Act, provides up to $1 per gallon for domestic production of clean transportation fuels - and that includes ethanol. One way ethanol plants can get the tax credit is to prove the corn they are using has a low carbon intensity score derived from the farmer’s practices, such as use of cover crops and reduced tillage.
The new tax credit starts in 2025, but based on practices started in 2024. Take a look at the video, posted below, for some additional information.
Meet Brad McDonald, Continuum Ag
Thursday, April 4, 2024 • 7pm to 8:15pm
BY Zoom
https://us02web.zoom.us/j/84451185107
Meeting ID: 844 5118 5107 • Dial in: 309 205 3325
Need to join by phone? We want everyone to participate equally, whether you join by video or phone. If you dial in, please remember to use the phone keypad as follows: press *6 to both mute or unmute yourself; and *9 to raise and lower your hand to be called on to speak.
What to Expect
Continuum Ag, a soil health data company, has been digging into the 45Z tax credit for some time, to determine how it might benefit farmers. Brad McDonald is Chief Operating Officer of Continuum Ag and a regenerative ag farmer. Topics he will cover include:
- What is the new 45Z tax credit, and how does it differ from 45Q?
- What practices do farmers need to adopt to reduce the carbon intensity of their corn production?
- How does this relate to the timing of 45Z?
- How can I become certified?
- What will the verification process look like?
- How will this affect my competitiveness in the marketplace?
- How long is this tax credit going to last?
- What are the benefits of regenerative agriculture for soil health, water quality, and biodiversity?
- How much money are farmers likely to make?
- Will it vary, based on the practice a farmer adopts?
- Will practices I already have in place count?
- What will it cost to get started, and how will famers be paid?
Because there is a lot of interest in this topic, we expect to have a "full house". Please come prepared to ask your questions, and we will do our best to ensure they are answered!
Questions? Contact Pam at coalition@noillinoisco2pipelines.org.