The bill would create a federal tax credit for qualifying American film and television productions. Productions generally must cost more than $1 million, be a feature film, television pilot, or season, and have at least 75% of their principal photography days in the United States. The credit would start at 20% of qualifying compensation for U.S. services, with increases for certain productions and producers. The credit could be transferred under existing tax rules. It would apply to productions whose principal photography begins in taxable years starting after December 31, 2026.
Eligible producers could claim a tax credit for qualifying compensation paid for services performed in the United States. The credit includes work by actors and production workers, but excludes residuals and participations. The bill does not describe a direct benefit for individuals who are not involved in eligible productions.
No publicly available information on the bill’s estimated fiscal cost.
No publicly available information.
No publicly available information.