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Tax deductions for film and TV production: extension and increased limits

This bill amends the Internal Revenue Code of 1986 to extend the deduction for film, television, and live theatrical productions through December 31, 2030. It increases the aggregate cost limitation for qualified productions to $30,000,000. For productions in certain areas, the limitation is increased to $40,000,000. The bill also introduces a cost-of-living inflation adjustment for these amounts for taxable years beginning after 2026.
Key points
Tax Deduction Extension: The expiration date for the deduction is extended from December 31, 2025, to December 31, 2030.
Increased Deduction Limit: The aggregate cost limit for qualified productions is raised to $30,000,000 (replacing previous references to $15,000,000).
Higher Limits for Specific Areas: For productions in certain areas, the limit is raised to $40,000,000 (replacing previous references to $20,000,000).
Inflation Adjustment: Dollar amounts will be adjusted for inflation for taxable years beginning in a calendar year after 2026.
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Introduced
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Additional Information
Print number: 119_HR_4787
Sponsor: Rep. Chu, Judy [D-CA-28]
Process start date: 2025-07-29
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OFFICIAL LEGAL TITLE

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.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_4787.

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 2025-07-29.

What are the main provisions?

Key points include:

  • Tax Deduction Extension: The expiration date for the deduction is extended from December 31, 2025, to December 31, 2030.
  • Increased Deduction Limit: The aggregate cost limit for qualified productions is raised to $30,000,000 (replacing previous references to $15,000,000).
  • Higher Limits for Specific Areas: For productions in certain areas, the limit is raised to $40,000,000 (replacing previous references to $20,000,000).
  • Inflation Adjustment: Dollar amounts will be adjusted for inflation for taxable years beginning in a calendar year after 2026.
What is the specific legal status?

The current status is Introduced.

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 Rep. Chu, Judy [D-CA-28].

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 2025-12-31.

CATEGORIES

Taxes Media and Culture Economy