To amend the Internal Revenue Code of 1986 to make permanent the election to treat the cost of qualified film and television productions as an expense which is not chargeable to capital account.

3.0.0 2375 2023-01-11T14:50:56Z 2023-01-11T14:50:56Z Senate S S 2007-11-15 110 ssfi00 Finance Committee Senate Standing Referred to 2007-11-16T00:17:39Z To amend the Internal Revenue Code of 1986 to make permanent the election to treat the cost of qualified film and television productions as an expense which is not chargeable to capital account. 110 3389 HR 2007-08-09 Referred to the Subcommittee on Trade. Related bill CRS To amend the Internal Revenue Code of 1986 to modify and make permanent the election to treat certain costs of qualified film and television productions as expenses. 110 3951 HR 2007-10-24 Referred to the House Committee on Ways and Means. Identical bill CRS 2007-11-15 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2007-11-15 Introduced in Senate IntroReferral 10000 9 Library of Congress L000035 Sen. Lincoln, Blanche L. [D-AR] BLANCHE LINCOLN D AR LAMBERT N S000663 Sen. Snowe, Olympia J. [R-ME] Olympia Snowe R ME J. 2007-11-15 True B000468 Sen. Bingaman, Jeff [D-NM] JESSE BINGAMAN D NM FRANCIS 2007-11-15 True S000148 Sen. Schumer, Charles E. [D-NY] Charles Schumer D NY E. 2007-11-15 True H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT 2007-11-15 True Taxation Arts, Culture, Religion Commerce Depreciation and amortization Income tax Motion pictures Science, Technology, Communications Tax deductions Television industry Television programs Taxation

00 2007-11-15 Introduced in Senate 2007-12-15T15:56:41Z Amends the Internal Revenue Code to: (1) exclude participations and residuals from the dollar limitation on the taxpayer election to expense qualified film and television production costs; (2) allow amortization of costs ineligible for expensing; and (3) make such expensing election permanent.

]]>

A bill to amend the Internal Revenue Code of 1986 to modify and make permanent the election to treat certain costs of qualified film and television productions as expenses. Display Title A bill to amend the Internal Revenue Code of 1986 to modify and make permanent the election to treat certain costs of qualified film and television productions as expenses. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to modify and make permanent the election to treat certain costs of qualified film and television productions as expenses. Introduced in Senate IS Introduced in Senate 2007-11-15T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s2375is/xml/BILLS-110s2375is.xml 2007-11-15 Read twice and referred to the Committee on Finance. text/xml 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.