Prevailing-Wage Requirement For Biofuel Incentives
July 16, 2008, 12:00 AM EDT
Law360, New York (July 16, 2008, 12:00 AM EDT) -- On May 27, 2008, Congress passed the Food, Conservation, and Energy Act of 2008 (H.R. 2419), overriding an earlier veto of the bill by President George W. Bush. Although this legislation provides substantial financial incentives for the development of biofuels, project sponsors should be aware that these incentives are conditioned by a prevailing-wage requirement that could negatively impact project viability.
More commonly known as the Farm Bill, H.R. 2419 expands and extends a number of existing federal programs that were designed to promote agriculture-based renewable energy...