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.

This bill keeps a popular tax break for making movies, TV shows, and live theater in the U.S. going five more years, through the end of 2030. It also raises the cap on how much spending can qualify, up to $30 million per production, so more of a project’s budget can be written off sooner. Some places can qualify for a higher cap, and starting with tax years after 2026, these dollar limits will rise over time with inflation, rounded to the nearest $1,000. These changes apply to productions that start after the bill becomes law .

Key points

• Who’s affected: Film, TV, and live theater productions made in the U.S..
• What changes: Extends the special tax deduction to December 31, 2030; lifts the qualifying spending cap to $30 million; allows a higher cap in certain areas; and adds an inflation adjustment after 2026 .
• When: Applies to productions that begin after the law takes effect.