Bill > S2530

This bill, known as the CREATE Act (Creative Relief and Expensing for Audio and Television Enterprises Act), amends the Internal Revenue Code to expand tax expensing provisions for qualified media productions. Specifically, the bill increases the dollar limitations for production expenses that can be immediately written off, doubling the previous thresholds from $15 million to $30 million for most productions and from $20 million to $40 million for certain higher-budget productions. 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, with increases rounded to the nearest $1,000. Additionally, the bill extends the termination date for these tax expensing provisions from December 31, 2025, to December 31, 2030, effectively giving media producers several more years to benefit from these tax incentives. These changes will apply to productions commencing in taxable years after December 31, 2025, providing financial relief and encouragement for the audio and television entertainment industry.

Budget and Finance

https://www.congress.gov/bill/119th-congress/senate-bill/2530/all-info