Date: 04/30/2024
Type: Implementation of IRA
On April 30, 2024, Treasury and IRS released guidance on the IRC section 40B Sustainable Aviation Fuel (SAF) Credit, created by IRA section 13203. The guidance provides clarity on eligibility for the SAF credit, which incentivizes lifecycle GHG reductions of at least 50% in aviation fuel. The guidance also includes an update to the GREET Model for measuring lifecycle emissions from aviation fuels and determining credit eligibility.
Opportunities for Participation and Additional Resources:
- Press release: https://home.treasury.gov/news/press-releases/jy2307
- Guidance: https://www.irs.gov/pub/irs-drop/n-24-37.pdf