COLUMBUS, Miss. (AP) - A biofuel plant in bankruptcy has paid $1.1 million it owed for local taxes in Mississippi.
The Commercial Dispatch reports (https://bit.ly/1KgIGdl ) that the Texas-based company, KiOR, paid the money Thursday, eight months late.
Lowndes County Tax Collector Greg Andrews says KiOR originally owed just over $1 million, but a 1 percent penalty was added each month after the February deadline.
Andrews says the Lowndes County School District will receive $376,000, and Lowndes County and Columbus will receive $364,000 each.
KiOR built a $200 million plant designed to convert wood chips to fuel, but the plant has not operated since late 2013. Its equipment was sold for $3.7 million.
The state of Mississippi provided incentives for KiOR, and is expected to recover little of the $79 million it’s seeking in repayment.
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