Comment on FR Doc # E8-17270

These comments are being submitted on behalf of FutureFuel Chemical Company, FFCC, regarding proposed rulemaking pertaining to Alcohol Fuel and Biodiesel; Renewable Diesel; Alternative Fuel; Diesel-Water Fuel Emulsion; Taxable Fuel Definitions; Excise Tax Returns (REG-155087-05). 1. FFCC requests that the IRS implement the provision in P.L. 110-343 that allows all biodiesel, regardless of feedstock used to produce the fuel, to claim the $1 per gallon biodiesel blenders excise tax in a timely manner consistent with the Jan 1, 2009 effective date in P.L. 110-343. 2. FFCC requests the IRS to revise Notice 2007-37 to relfect the change in P.L. 110-343 that clarifies that co-produced renewable diesel does not qualify for the $1 per gallon renewable diesel tax incentive. 3. FFCC requests the IRS to use authority provided in P.L. 110-343 to close the "splash & dash" loophole that currently exists. 4. FFCC implores the IRS to recognize that the change in the Proposed Regulations that would make B99.9 taxable fuel without regard to existing IRS regulations pertaining to excluded liquids would have a SIGNIFICANT impact on the US biodiesel industry, in particular below the rack sales. However, IRS implementation of an ExStars-based reporting requirement to track below the rack biodiesel sales would have an even more ONEROUS impact on the industry.