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Audit finds tax incentive program goals "too vague"
The Legislative Performance Audit Committee says the goals Nebraska legislators stated for four business tax incentive programs were too vague to permit useful evaluations of the programs.
The committee released the findings Monday, saying businesses qualifying for incentives under the Nebraska Advantage Act - the major program of the four reviewed - used nearly $76 million in tax refunds and credits between 2008 and 2011 and used as much or more in additional tax credits that had not yet been used.
Chairman of the Committee, John Harms said while it's clear the businesses that used those incentives have invested millions of dollars in the state and created new jobs, what is not clear is how much of that activity may have occurred without the tax incentives.
The Legislature created or modified all four of the acts reviewed in 2005.
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