Members of the Congressional Conference Committee have begun negotiations on the Energy Policy Act of 2003 in an effort to resolve differences between the Senate and House-passed bills.

Prior to leaving for the August recess, Senate leaders scrapped the bill passed by the Senate Energy committee and substituted a bill passed in 2002. That bill, now in conference, included key biodiesel provisions and credits for hybrid electric vehicles. The House bill is silent on both issues.

Specifically, the Senate bill provides for a one-cent reduction in the diesel excise tax per percentage of biodiesel blended with diesel, up to 20 percent (B20). Also included is a Renewable Fuels Standard that calls for the nation’s fuel supply to increase its use of renewable domestic fuels, like biodiesel, to five billion gallons by 2012.

From the National Association of Fleet Administrators Newsletter

Originally posted on Fleet Financials