• Offer refundable or transferable Tax Credit Percentages
  
  • 30% base on direct Iowa expenditures, e.g., housing, materials and supplies, office, production space, location fees, fuel, food, per diem, etc.
  • + 8% Local Hire - based on a 50% minimum.
  • + 5% Educational outreach program – on-the-job training during production, an intern program or training at a school.
  • 25% tax credit for cast, crew, and equipment sourced from out of state to be scaled back as experienced Iowa cast, crew and equipment levels increase.
• Above the line expenses from out of state will not qualify for tax credits; Iowa residents will.
•  Lower the qualifying budget threshold to $50,000.
• Film, television, video and animation projects are eligible; also postproduction services for picture sound, marketing, and distribution.
• Eliminate temporary Pass-Through companies.
• Keep state income tax exemption of 25% per year over four years for Iowa vendors. This will provide incentive for vendor development in Iowa (equipment and services). Eliminate exemption for cast and crew.
• Cap the tax incentive at $75M annually and limit tax credit award to $10M per project.
• Report aggregate Iowa spend and employment and amount of tax credit awarded by production for transparency; Film Office to submit quarterly status reports accessible by public.
• Five-year sunset. DED should review and report ROI every year. Program to be reviewed in year four for possible continuation beyond year five.
• Require 3rd party audit by Iowa CPA firm prior to final submission to Film Office for tax credits – cost of audit to be allowed as part of the Iowa spend.
• Charge $250 application fee plus .5% of Iowa spend prior to issuing of tax credit to provide natural funding stream for film office to be used for marketing and industry training
• Allow DED to employ up to three full time employees to administer the program, with appropriate skills and separation of powers.
• Charge DED to explore Public/Private Partnerships to:
  • Encourage location production, job training and “bricks and mortar” establishments in designated enterprise zones and areas with higher unemployment.
  • Encourage and help coordinate investment for development of production infrastructure, e.g., soundstage and postproduction services for picture, sound, marketing, and distribution.
  • Form Iowa Film Advisory Board comprised of appropriate industry professionals to monitor Iowa Film Office and Film Promotion Program.

Download the printable and e-mail friendly version of the IMPA's talking points, economic snapshot and program recommendations documents.