MN HF2456

Establishes a renewable chemical and advanced biofuel capital equipment revolving loan fund administered by the commissioner of agriculture for loans to facilities producing advanced biofuels, renewable chemicals, and anaerobic digestion products.

Creates an advanced biofuel production incentive program providing payments of $2.1053 per MMBtu for cellulosic biomass and $1.053 per MMBtu for sugar or starch-based biofuels for ten years after production begins at a qualifying facility.

Creates a renewable chemical production incentive program providing payments of $0.03 per pound for sugar-derived and cellulosic sugar chemicals and $0.06 per pound for cellulosic-derived chemicals for ten years after production begins.

Caps annual payments at $15,000,000 for each incentive program, with individual producer limits of 2,850,000 MMBtu for biofuels and 99,999,999 pounds for renewable chemicals per fiscal year.

Requires eligible facilities to source at least 80-90 percent of raw materials from Minnesota, begin production by June 30, 2020, and prohibits payments after June 30, 2030; mandates quarterly claims with independent CPA verification and annual disclosure of ownership and financial data to the commissioner.