Iowa’s Tax Incentive Programs Used by Biofuel Producers Tax Credits Program Evaluation Study

Zhong Jin and Brittany Teahan

MPRA Paper from University Library of Munich, Germany

Abstract: Executive Summary: Iowa offers several tax incentive programs that have been utilized by biofuel producers. The tax credit programs include the Enterprise Zone Program (EZ), the New Jobs and Income Program (NJIP), the New Capital Investment Program (NCIP), and the High Quality Job Creation Program (HQJCP). The NJIP and NCIP were replaced by HQJCP on July 1, 2005, but claims under NJIP and NCIP contracts can still be made. The EZ, NJIP, and HQJCP allow biofuel producers to claim a ten percent Investment Tax Credit. The NCIP provides a five percent Investment Tax Credit. All four programs offer a sales and use tax refund and a supplemental Research Activities Tax Credit. The EZ and NJIP also provide a supplemental Iowa Industrial New Job Training Program (260E) withholding tax credit. All four programs were not established specifically to support the biofuel industry but rather to help the State of Iowa promote general business investments. The major findings of the study are:...

Keywords: Investment Tax Credit; Tax Policy; Policy Evaluation; Tobin's Q; Biofuel Investment; Ethanol Production; State and Local Government (search for similar items in EconPapers)
JEL-codes: E62 H25 H43 H71 Q11 Q42 Q48 R50 (search for similar items in EconPapers)
Date: 2009-03-31
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