Puerto Rico Film, Television, and Theatre Production Act of 2018

Bill: 115-hr-5183
Sponsor: full_name: Resident Commissioner González-Colón, Jenniffer [R-PR-At Large]
Introduced: 2018-03-06
Policy area: Taxation
Subjects: Business investment and capital

Income tax deductions

Performing arts

Puerto Rico

Television and film

U.S. territories and protectorates
Latest action: action_date: 2018-03-06
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2018-03-06
action_desc: Introduced in House
text: <p><b>Puerto Rico Film, Television, and Theatre Production Act of 2018 </b></p> <p>This bill amends the Internal Revenue Code; with respect to rules that allow the expensing of certain costs of qualified film, television, and live theatrical productions; to: (1) apply the rules to Puerto Rico, and (2) extend the rules through 2021 for Puerto Rico. (Under current law, the rules apply through 2017 for productions with costs that include a specified amount of compensation for services performed in the United States.)</p>

tv_txt: I 115th CONGRESS 2d Session H. R. 5183 IN THE HOUSE OF REPRESENTATIVES March 6, 2018 Miss González-Colón of Puerto Rico (for herself, Mr. Soto , and Mr. King of New York ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to apply the rules related to the treatment of certain qualified film and television and live theatrical productions to Puerto Rico.

1. Short title This Act may be cited as the Puerto Rico Film, Television, and Theatre Production Act of 2018 . 2. Application of rules for certain qualified film and television and live theatrical productions to Puerto Rico (a) Inclusion of Puerto Rico Section 181(d)(3)(A) of the Internal Revenue Code of 1986 is amended by inserting (including Puerto Rico) after United States . (b) Extension for Puerto Rico Section 181(g) of such Code is amended to read as follows: (g) Termination (1) United States other than Puerto Rico In the case of any production commencing after December 31, 2017, subsection (d)(3)(A) shall be applied by substituting Puerto Rico for United States (including Puerto Rico) . (2) Final termination This section shall not apply to productions commencing after December 31, 2021. . (c) Effective date (1) In general The amendment made by subsection (a) shall apply to productions commencing after December 31, 2016. (2) Extension for Puerto Rico The amendment made by subsection (b) shall apply to productions commencing after December 31, 2017.