Iowa Lawmakers Consider Movie Industry Boost with Tax Credits
Proposed Bill Aims to Revitalize Iowa’s Film Sector Amid Past Credit Program Scandal
According to Des Moines Register, Iowa lawmakers are thinking about a new law to help the state’s movie industry. They want to give tax credits to attract movie studios and make Iowa a popular place for filming again. The proposed law by Iowa lawmakers called House Study Bill 731 suggests giving a 30% rebate on money spent on big-budget movies from 2025 to 2026. This idea comes after Iowa had problems with a previous movie credit program which led to a scandal and court cases involving $26 million in wrongly given credits and people getting convicted.
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Iowa Lawmakers Optimistic About Iowa Film Industry Bill Amid Bipartisan Support
Representatives Brent Siegrist and Brian Best are optimistic about the new proposal believing it addresses past issues and has potential for success. The bill has garnered support from various movie groups and studios highlighting the need for Iowa to remain competitive in the industry. Iowa lawmakers aim to amend the bill to make it easier for smaller-budget films to qualify for rebates aiming to boost Iowa’s film sector. With bipartisan backing, the bill faces a tight deadline for approval in both the House and Senate signaling Iowa lawmakers‘ efforts to support Iowa’s movie industry while addressing previous challenges and planning for the future.