THE INCENTIVES PROGRAM - TIP

On June 6, 2025, Governor Kim Reynolds signed Senate Bill 657 into law, thereby establishing the Iowa Film Production Incentive Program. Details of the program are as follows:

• Establishes a rebate equal to 30% of documented qualified expenditures, excluding any sales, use, and hotel and motel taxes paid;
• Limits the cumulative value of rebates that may be claimed by qualified production facilities to $4 million;
• Allows the authority to provide further guidance by rule;
• Eligibility criteria must include:
  • A total production budget of at least $1 million, including at least $500,000 in qualified expenditures;
  • Evidence that the total production budget is fully funded;
  • Documentation that all qualified expenses were incurred after the approval of the application by the authority;
  • “Filmed in Iowa” screen credit;
  • An attestation by a certified public accountant; and,
• Establishes a sunset date of June 30, 2027.

This program takes effect on July 1, 2025.