HF2662 creates the Iowa Film Production Incentive Program, offering up to 30% rebates for film, TV, and documentary production expenses in Iowa, with a $10 million total rebate limit. Productions must have a $1 million budget and meet other requirements.
The Iowa State House of Representatives passed HF2662 on March 26, 2024 by a vote of 87 to 8. We have assigned pluses to the nays because government should not intervene in the marketplace by selectively granting tax incentives to specific industries. Furthermore, the film industry generally supports woke, Marxist ideology. Taxpayers should not be financially responsible for supporting movie productions that are associated with leftists.