CREATE Act

Summary#

This bill amends section 181 of the Internal Revenue Code to expand the ability to immediately expense certain qualified productions. It raises key dollar limits used to determine eligibility by replacing $15,000,000 with $30,000,000 and replacing $30,000,000 with $40,000,000. The bill adds an inflation adjustment for those dollar amounts for taxable years beginning after 2026, using the tax code cost-of-living formula and rounding to the nearest $1,000. It also extends the expiration (sunset) date for these provisions from December 31, 2025, to December 31, 2030. The changes apply to productions commencing in taxable years ending after December 31, 2025.

What it means for you#

• If you produce or invest in a qualified production, the bill would allow higher dollar amounts to be expensed immediately instead of being capitalized, starting for productions that begin after December 31, 2025.
• The dollar limits would be adjusted for inflation after 2026, so the caps could rise over time.
• The expensing rule would remain available through December 31, 2030.

Expenses#

No publicly available information on the bill's estimated budgetary cost or revenue effects is included in the provided text or metadata.

Proponents' View#

No publicly available information in the bill text or provided metadata describes proponents' stated reasons or arguments.

Opponents' View#

No publicly available information in the bill text or provided metadata describes opponents' stated reasons or arguments.