119-hr4787

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4787 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
 H. R. 4787

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.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 July 29, 2025

 Ms. Chu introduced the following bill; which was referred to the 
 Committee on Ways and Means

_______________________________________________________________________

 A BILL

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.

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

SECTION 1. FILM AND TELEVISION PRODUCTION DEDUCTION AMENDMENTS.

    (a) Extension.--

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 Limitation.--

Section 181

    (a)

    (2)
        (A) of such 
Code is amended to read as follows:
 ``
        (A) In general.--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 Areas.--

Section 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) Inflation Adjustment.--

Section 181

    (a)

    (2) of such Code is 
amended by adding at the end the following new subparagraph:
 ``
            (C) Inflation adjustment.--
 ``
            (i) In general.--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) Effective Date.--The amendments made by this section shall 
apply to productions commencing after the date of the enactment of this 
Act.
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