VEET

(redirected from Volumetric Ethanol Excise Tax)
AcronymDefinition
VEETVictorian Energy Efficiency Target (Australia)
VEETVolumetric Ethanol Excise Tax
VEETVocational Education Employment and Training Act (Australia)
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References in periodicals archive ?
APPENDIX TABLE A1: Federal Ethanol Tax Credit Authorities Value/ Year Law / Regulation gallon * 1978 Energy Tax Act $0.40 1980 Crude Oil Windfall Tax Act $0.40 1982 Surface Transportation Assistance Act $0.50 1984 Tax Reform Act $0.60 1990 Omnibus Budget Reconciliation Act $0.54 2001 Transportation Equity Act for the 21st Century (reductions through 2005 set by the Intermodal Surface Transportation Efficiency Act) $0.53 2003 Intermodal Surface Transportation Efficiency Act $0.52 2005 Intermodal Surface Transportation Efficiency Act $0.51 2005 Volumetric Ethanol Excise Tax Credit (through American Jobs Creation Act of 2004) $0.51 Sources: EIA and Koplow (2006).
3550, which passed on a vote of 357 to 65, includes the Volumetric Ethanol Excise Tax Credit (VEETC).
In letters to Speaker John Boehner (R-Ohio) and Minority Leader Nancy Pelosi (D-Calif.), the group notes that the 45-cent-a-gallon volumetric ethanol excise tax credit (blenders tax credit), as well as the 54-cent-per-gallon import tariff are both due to expire at the end of 2011.
Categories: Energy, Agricultural industry, Air quality, Alternative energy sources, Alternative fuels, Eligibility determinations, Energy consumption, Environmental monitoring, Feed industry, Fuel consumption, Fuel prices, Fuel research, Fuels, Gasoline, Grain and grain products, Greenhouse gases, Land use, Petroleum products, Prices and pricing, Raw materials, Soil erosion, Tax credit, USDA Biomass Crop Assistance Program, Volumetric Ethanol Excise Tax Credit (VEETC), Water quality
For producers of cellulosic ethanol, the value of the credit is reduced by the amount of the volumetric ethanol excise tax credit and the small ethanol producer credit (see above)-currently, the value would be 40 cents per gallon.
According to RFA, by modifying the way federal excise taxes are collected on ethanol-blended fuels, the volumetric ethanol excise tax credit (VEETC) would generate more than $2 billion per year in added HTF revenues while maintaining an incentive for the use of renewable fuels.
Under the proposal, the volumetric ethanol excise tax credit rate would be set at 20 cents per gallon in 2012 and 15 cents per gallon in 2013, down from the existing rate of 45 cents per gallon.
His targets are the 45-cents-per-gallon volumetric ethanol excise tax credit (VEETC) that refiners get for blending ethanol with gasoline and the 54-cents-per-gallon tariff on imported ethanol.
Because of this concern, a Volumetric Ethanol Excise Tax Credit (VEETC) was proposed.
"While far from an exhaustive study of all contributions," that figure includes $16.7 billion from the volumetric ethanol excise tax credit (VEETC) or blenders tax credit that has been the subject of debate on Capitol Hill, the report said.
(80) For more information, see the American Coalition for Ethanol, Volumetric Ethanol Excise Tax Credit (VEETC) at [http://www.ethanol.org/veetc.html]
such as the volumetric ethanol excise tax credit (VEETC) amounting to $0.45 per gallon of blended ethanol are squeezing the margins of competing European producers when the resulting blend is exported to the EU, according to ePURE.