Wednesday was a difficult day for The American Independent News Network, which is the larger entity that operates The Iowa Independent. Our chief executive and founder announced two of our sister sites would close and their content would be moved to The American Independent.
A recently introduced bill could have far-reaching impact on the U.S. sugar industry, including American Crystal Sugar, a farmer-owned cooperative that locked out 1,300 Midwest workers on Aug. 1.
The chairman for Herman Cain’s Iowa effort says the campaign “relied more on the word of farmers than Washington regulators” in deciding to run an ad containing claims the Environmental Protection Agency says are false.
The Iowa Senate will remain under the control of a slim 26-25 Democratic majority when it reconvenes in January 2012.
State officials were incorrect when they said Wednesday that the state would not have to issue tax credits for 109 film projects that received initial approval but are not under contract, Attorney General Tom Miller said Thursday.
“The state’s obligations and liabilities may not be determined solely by whether a contract has been signed by the parties, and statements by state officials to that effect are mistaken,” Miller said in a statement.
The Iowa Department of Economic Development said Wednesday that of the 157 projects that applied for the 50 percent tax credit offered by the state, only 22 have been paid out and 26 have entered into formal contracts. The rest only received initial approval, which IDED spokeswoman Erin Seidler said would likely mean the state will not be obligated to issue credits for those 109 projects.
That put the future cost of the program at a little more than $78 million.
Miller said it is his office’s responsibility to determine the state’s obligations and liabilities under the film tax credit program, and that work is currently underway.
“We understand the difficulties suspension of the program poses for companies doing business in Iowa, and we will weigh that carefully case by case as state officials determine how best to proceed,” he said.
If tax credits are issued for the 109 additional projects, it could end up costing the state more than $300 million.
Miller, along with state Auditor David Vaudt, were asked by Gov. Chet Culver to conduct an investigation into the film tax credit program after allegations of misconduct emerged last week.
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