Bill > HR4787

This bill amends the Internal Revenue Code to extend and modify tax deductions for film and television productions. Specifically, the bill extends the existing tax deduction for qualified film and television productions from December 31, 2025, to December 31, 2030. It increases the dollar limitation on production costs eligible for the deduction from $15 million to $30 million for general productions, and from $20 million to $40 million for productions in certain areas (likely referring to productions in areas with lower production costs or economic incentives). The bill also introduces an inflation adjustment mechanism that will automatically increase these dollar amounts annually starting in 2027 based on the cost-of-living adjustment. These changes are designed to provide continued tax incentives for film and television production in the United States, potentially encouraging more domestic media production by offering financial benefits to production companies. The amendments will apply to productions that begin after the date of the bill's enactment.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4787/all-info