On March 23 Iowa Governor Terry Branstad (R) signed legislation that would guide how real estate is used in the cultivation and production of algae.
The new law makes land used for growing algae qualify as agriculture property. This gives algae farmers similar tax treatment as other types of agriculture and will make it easier for the industry to expand as it begins producing commercial quantities of sustainable animal feed, food, nutritionals and biofuels.
Reflecting the wide support algae can attract, the state Senate passed the bill unanimously before sending it to the Governor to sign.
Iowa officially joins Arizona and Ohio as states that have taken a proactive role in laying the groundwork for the algae industry’s future!