[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2450 Introduced in House (IH)]

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115th CONGRESS
  1st Session
                                H. R. 2450

   To amend the Internal Revenue Code of 1986 to extend the special 
   expensing rules for certain film, television, and live theatrical 
                              productions.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 16, 2017

    Mr. Collins of Georgia (for himself, Mr. Crowley, Mr. Smith of 
  Missouri, Ms. Sanchez, Ms. Judy Chu of California, Mr. Donovan, Mr. 
Nadler, Mr. Carter of Georgia, Mr. Long, Mr. Correa, Mr. Collins of New 
 York, and Ms. Meng) introduced the following bill; which was referred 
                   to the Committee on Ways and Means

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                                 A BILL


 
   To amend the Internal Revenue Code of 1986 to extend the special 
   expensing rules for certain film, television, and live theatrical 
                              productions.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Facilitating Investments in Local 
Markets Act of 2017'' or the ``FILM Act of 2017''.

SEC. 2. EXTENSION OF SPECIAL EXPENSING RULES FOR CERTAIN FILM, 
              TELEVISION, AND LIVE THEATRICAL PRODUCTIONS.

    (a) In General.--Section 181(g) of the Internal Revenue Code of 
1986 is amended by striking ``December 31, 2016'' and inserting 
``December 31, 2018''.
    (b) Effective Dates.--
            (1) In general.--The amendments made by this section apply 
        to productions commencing after December 31, 2016.
            (2) Commencement.--For purposes of paragraph (1), the date 
        on which a qualified live theatrical production commences is 
        the date of the first public performance of such production for 
        a paying audience.
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