To amend the Internal Revenue Code of 1986 to extend the deduction for film and television productions and to make certain changes with respect to the calculation of such deduction.
Sponsored By: Representative Chu, Judy [D-CA-28]
Introduced
Summary
Extends and raises caps for the Section 181 film and TV production tax deduction. This bill would keep the special tax deduction for film, television, and live theatrical production costs in place and increase the dollar limits that determine how much of a production's costs qualify.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Higher tax deduction for film, TV, theater
This bill would extend the film, TV, and live theater production deduction through December 31, 2030. Producers of qualified projects that start after enactment would be able to deduct up to $30,000,000 of qualified costs. In certain designated areas under existing law, the cap would be $40,000,000. For tax years beginning after 2026, these caps would be adjusted for inflation and rounded to the nearest $1,000. Costs above the cap would not qualify under this deduction.
Sponsors & CoSponsors
Sponsor
Chu, Judy [D-CA-28]
CA • D
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
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