VEETC

(redirected from Volumetric Ethanol Excise Tax Credit)
AcronymDefinition
VEETCVolumetric Ethanol Excise Tax Credit
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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).
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
As the volumetric ethanol excise tax credit and/or the small ethanol producer credits decrease, the per-gallon credit for cellulosic ethanol production increases by the same amount.
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.
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.
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.
The legislation would repeal the 45-cent-a-gallon Volumetric Ethanol Excise Tax Credit (VEETC) or "blenders tax credit" popular with the ethanol industry.
Under the new law, the ethanol tax credit--known as the volumetric ethanol excise tax credit, or VEETC--will continue at its current level of 45 cents through Dec.
Modified refundable tax credit program: After a one-year transition, the current blenders' credit (called the volumetric ethanol excise tax credit or VEETC) would be changed to a producer tax credit going directly to ethanol plants.