This bill establishes several programs administered by the economic development authority to promote the interactive digital entertainment industry in Iowa. It introduces the Interactive Digital Entertainment Program, which offers tax credits to qualified developers for expenditures related to the development of interactive media and video games produced in the state. The program has specific eligibility criteria, including maintaining a physical presence in Iowa and a minimum payroll. Additionally, the bill creates a Game Studio Investment Matching Program that provides forgivable loans to investors who match private investments in Iowa-based game development companies, as well as a Game Industry Fellowship Program that grants funds to experienced professionals relocating to Iowa for work in the video game industry.

The bill also establishes a Game Studio Grant Program to assist eligible game studios in recruiting senior-level professionals from outside the state. It appropriates $20 million from the state’s general fund for the Interactive Digital Entertainment Program and additional funds for the fellowship and grant programs, with $3 million allocated from the sports wagering receipts fund for FY 2026-2027, increasing to $5 million in subsequent years. The authority is responsible for administering these programs, adopting necessary rules, and submitting annual reports to the General Assembly detailing participation, job creation, and the economic impact of these initiatives. Overall, the bill aims to strengthen Iowa's game development sector through financial incentives and support for both companies and professionals in the industry.

Statutes affected:
Introduced: 8.33