The International Alliance of Theatrical Stage Employees (IATSE) Low Budget Agreement is a union agreement that provides a special contract for productions with budgets under a certain amount. This agreement helps to ensure fair wages and working conditions for crew members on independent productions.

The IATSE Low Budget Agreement was created in response to the growing number of low-budget independent productions being made in North America. These productions often struggle to pay crew members fair wages and provide basic benefits such as health insurance.

Under the Low Budget Agreement, productions with budgets under $700,000 are eligible for a special contract that provides a lower rate of pay for crew members. This lower rate is designed to make it more financially feasible for low-budget productions to hire unionized crew members.

In addition to the lower rate of pay, the Low Budget Agreement also provides provisions for working conditions and benefits such as health insurance. These provisions include hourly wage rates, meal and rest breaks, and overtime pay.

While the Low Budget Agreement provides a lower rate of pay for crew members, it also ensures that they are working under fair and safe conditions. This helps to ensure that independent productions can continue to be made while also providing fair wages and benefits for those who work on them.

In order to be eligible for the IATSE Low Budget Agreement, productions must meet certain criteria. These criteria include having a budget under $700,000 and a maximum of 14 shoot days. Productions must also be produced in the United States or Canada and must meet certain other requirements.

Overall, the IATSE Low Budget Agreement provides an important option for independent productions to hire unionized crew members while also ensuring fair wages and working conditions. This helps to support the growth of independent filmmaking while also supporting the rights and needs of those who work in the industry.