State of Iowa chases Film Production with Tax Credits
Iowa recently passed HF 892 which creates the Film Promotion Program & Tax Credits. Iowa is known for two films, State Fair, and Bridges of Madison County. With the creation of this Iowa Film Tax Credit program, the state is aggressively positioning itself as a film location for the shooting of television and movies.
The program provides for the issuance of tax credit certificates that are issued to investors in a movie or television production and the producer of a movie or television production for qualified expenditures made during filming within the state.
These tax credits are transferable which allows them to be bought and sold. This creates a financing mechanism that helps attract producers to the state while selling the tax credits and utilizing the proceeds to help fund the production of their film.