Iowa Extends Production Tax Credit to Include Solar and Biomass

June 15, 2005

Iowa Governor Tom Vilsack signed a bill on June 15 that extends wind energy production tax credits to producers of energy products from biomass or solar energy. To earn the tax credit, the producers must have a signed agreement for the purchase of their energy product, which can be in the form of electricity, biogas, hydrogen, or heat for a commercial purpose. The bill, Senate File 390, applies to facilities placed in service after July 1st of this year and before 2011. The renewable energy facilities can earn tax credits for up to 10 years. See the text and status of the bill on the Iowa General Assembly Web site.