Nebraska Legislature Bill LB1072

Nebraska 2023-2024 Regular Session

• Introduced: 1/8/24
• Refer: 1/10/24
• Failed: 4/18/24

Caption

Provide a tax credit for sustainable aviation fuel

Impact

The implementation of LB1072 is expected to have a positive impact on state laws pertaining to energy and environmental standards. By introducing tax credits for sustainable aviation fuel, the bill could stimulate market interest in renewable resources and related technologies within the state. Furthermore, it may lead to increased investments in infrastructure for the production and distribution of these fuels, ultimately contributing to the state's goals for reducing its carbon footprint and promoting sustainable practices.

Summary

LB1072 is legislation aimed at providing tax credits for the use of sustainable aviation fuel. The purpose of the bill is to encourage the production and adoption of environmentally friendly fuels in the aviation industry, which is known for being a significant contributor to greenhouse gas emissions. By incentivizing the use of sustainable aviation fuel, the bill seeks to support the development of cleaner technologies and foster a more environmentally responsible aviation sector.

Contention

While there is broad support for the environmental goals of LB1072, some points of contention have arisen during discussions about the bill. Opponents raise concerns regarding the potential cost of the tax credits to the state and the long-term feasibility of sustainable aviation fuels as a viable alternative. Additionally, there are discussions about the adequacy of current technological advancements in producing such fuel at scale. Proponents argue that the long-term environmental benefits outweigh the financial considerations, and the transition to sustainable aviation fuel must start now to meet future environmental standards.