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Tax Breaks for Film and Theater Productions in Puerto Rico

New rules are changing tax law to allow companies producing films, TV shows, and theatrical performances in Puerto Rico to deduct investment costs faster. This aims to encourage more productions in the region, potentially creating new jobs and boosting the local economy.
Key points
Film, television, and live theatrical productions in Puerto Rico will benefit from accelerated depreciation for their investments.
This change is designed to support the growth of the entertainment industry in Puerto Rico, potentially leading to economic benefits for residents.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 118_HR_376
Sponsor: Rescom. González-Colón, Jenniffer [R-PR-At Large]
Process start date: 2023-01-17
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Puerto Rico Film, Television, and Theatre Production Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_376.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-01-17.

What are the main provisions?

Key points include:

  • Film, television, and live theatrical productions in Puerto Rico will benefit from accelerated depreciation for their investments.
  • This change is designed to support the growth of the entertainment industry in Puerto Rico, potentially leading to economic benefits for residents.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rescom. González-Colón, Jenniffer [R-PR-At Large].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Media and Culture Economy