119 HR 4787 IH: 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.
U.S. House of Representatives
2025-07-29
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EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
1.Film and television production deduction amendments
(a)Section 181(g) of the Internal Revenue Code of 1986 is amended by striking December 31, 2025
and inserting December 31, 2030
. (b)Increase in dollar limitationSection 181(a)(2)(A) of such Code is amended to read as follows:
(A)Paragraph (1) shall not apply to so much of the aggregate cost of any qualified film or television production or any qualified live theatrical production as exceeds $30,000,000.. (c)Higher dollar limitation for productions in certain areasSection 181(a)(2)(B) of such Code is amended in the matter following clause (ii) by striking substituting $20,000,000
for $15,000,000
and inserting substituting $40,000,000
for $30,000,000
.
(d)Section 181(a)(2) of such Code is amended by adding at the end the following new subparagraph: (C) (i)In the case of any taxable year beginning in a calendar year after 2026, each dollar amount in subparagraph (A) or (B) shall be increased by an amount equal to—
(I)such dollar amount, multiplied by (II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2025
for calendar year 2016
in subparagraph (A)(ii) thereof.
(ii)Rounding.—Any increase determined under clause (i) shall be rounded to the nearest multiple of $1,000.. (e)The amendments made by this section shall apply to productions commencing after the date of the enactment of this Act.