State Economic leaders are putting a temporary stop to tax credits offered to movie makers while it overhauls the tax credit system. The move follows alleged abuses of the system.
The moratorium will not have an effect on any of the one hundred or so movies that were already approved because the state has agreed to adhere to the contracts it has in place. What the decision will do is prevent more movie makers from receiving incentives until the state can overhaul the program.
"That was the primary problem was the lack of administrative oversight," says Kent Newman of the Iowa Film Association, "Lack of accountability. But we are where we are and we need to move forward and make the best of it."
The moratorium will not have an effect on any of the one hundred or so movies that were already approved because the state has agreed to adhere to the contracts it has in place. What the decision will do is prevent more movie makers from receiving incentives until the state can overhaul the program.
"That was the primary problem was the lack of administrative oversight," says Kent Newman of the Iowa Film Association, "Lack of accountability. But we are where we are and we need to move forward and make the best of it."
