Legislative Update
Over 2,000 bills were introduced to Maine’s 129th legislature this past spring. Of particular interest to Biobased Maine was LD 1698: An Act to Create Jobs and Slow Climate Change by Promoting the Production of Natural Resources Bioproducts. This bill, sponsored by Assistant Majority Leader Ryan Fecteau, offers a tax credit between ¢7 and ¢12 per pound for the production of renewable chemicals, and reinstates the ¢5 per gallon tax credit for commercial production and use of biofuels.
Biobased Maine knows the importance of incentives like LD 1698, which will help Maine capture a market share in the growing global bioeconomy and bring good green manufacturing jobs to Maine, helping revitalize our economically distressed rural communities. And these high-value renewable chemical intermediates are an essential component of the bioeconomy. They’re the basis for renewable fuels and materials that will ultimately replace the petroleum-based products which dominate our modern economy and harm our environment.
To help grow Maine’s bioeconomy and fight climate change, Maine will need to compete with other natural resource-rich states, like Iowa and Minnesota, which already have similar legislation in place. That’s why Biobased Maine actively engaged in helping to pass LD 1698. We worked with business, industry, community, and other stakeholders to ensure all voices were heard.
At the public hearing for this bill in May, we were joined by Biofine Developments Northeast, Maine Standard Biofuels, Maine Forest Products Council, Maine Woodland Owners, the Professional Logging Contractors of Maine, the University of Maine, East Millinocket, Our Katahdin, Maine Energy Marketers, Ginkgo Bioworks, Eaton Peabody, the Environmental Health Strategy Center, and the national trade group Biotechnology Innovation Organization (BIO) in an overwhelming and bipartisan display of support for the bill.
LD 1698 passed the House and Senate, however the bill did not see Governor Mills’ signature this session. Biobased Maine hopes the Governor will sign the bill during the second session, and encourages supporters to contact the administration to urge the Governor to sign LD 1698 into law and attract high-paying jobs and climate-friendly business to Maine.