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HAROLD HILL MARCHES AT THE LEGISLATURE
March 08, 2007
Iowa's House Economic Growth Committee passed the movie-maker subsidy bill, HF 411, earlier this week. The bill creates transferable tax credits for filmmakers to sell at a discount to finance their projects. It's like a direct state film subsidy, but more expensive.
Still, it's worth taking a moment to list the names of all of the brave and principled members of the committee who stood up for the taxpayers against this bipartisan naked special interest cash grab: .
The committee also unanimously passed the special interest tax breaks in two other bills. It passed HF 246, allowing the sale of loss carryforwards by biotech companies. And it passed HF 456, which allows artists to deduct the appreciated value of charitable donations of their own artwork if they live or work in a "cultural or entertainment district." We're one step closer to my dream of becoming curator of the Digital Museum of Deductible Art.
Heaven help the artist that smokes, though.
Follow the progress of these and all other execrable Iowa tax legislation at our 2007 Iowa Tax Legislation page.
Prior Tax Update Coverage:
BECAUSE TOM ARNOLD NEEDS A SUBSIDY
THE ART OF SPECIAL INTEREST LEGISLATING
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