HB 85 -- Tax Credit for Processed Biomass Engineered Fiber Fuel Sponsor: McGhee Beginning January 1, 2012, this bill authorizes an income tax credit for any taxpayer who uses "processed biomass engineered fiber fuel" which is defined as any fuel derived from substances produced in this state that were changed from their original form and combined in a manufacturing process in this state of three or more biomass inputs, resulting in a fuel product with a heat value of at least 7,500 British Thermal Units (BTUs) per pound. The credit will be 30% of the purchased price of the fuel for the first year; 25% the second year; 20% the third year; 15% the fourth year; 10% the fifth year; and 5% the sixth year. The credit is not refundable and cannot be transferred, but can be carried forward for four years. The provisions of the bill will expire December 31 six years from the effective date.