FILM Act of 2017

Bill: 115-hr-2450
Sponsor: full_name: Rep. Collins, Doug [R-GA-9]
Introduced: 2017-05-16
Policy area: Taxation
Subjects: Business expenses

Income tax deductions

Intellectual property

Performing arts
Latest action: action_date: 2017-05-16
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2017-05-16
action_desc: Introduced in House
text: <p><strong>Facilitating Investments in Local Markets Act of 2017 or the FILM Act of 2017</strong></p> <p>This bill amends the Internal Revenue Code to extend through 2018 provisions that allow the expensing of the costs of qualified film, television, and live theatrical productions.</p>

tv_txt: I 115th CONGRESS 1st Session H. R. 2450 IN THE HOUSE OF REPRESENTATIVES May 16, 2017 Mr. Collins of Georgia (for himself, Mr. Crowley , Mr. Smith of Missouri , Ms. Sánchez , Ms. Judy Chu of California , Mr. Donovan , Mr. Nadler , Mr. Carter of Georgia , Mr. Long , Mr. Correa , Mr. Collins of New York , and Ms. Meng ) 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 extend the special expensing rules for certain film, television, and live theatrical productions.

1. Short title This Act may be cited as the Facilitating Investments in Local Markets Act of 2017 or the FILM Act of 2017 . 2. Extension of special expensing rules for certain film, television, and live theatrical productions (a) In general Section 181(g) of the Internal Revenue Code of 1986 is amended by striking December 31, 2016 and inserting December 31, 2018 . (b) Effective dates (1) In general The amendments made by this section apply to productions commencing after December 31, 2016. (2) Commencement For purposes of paragraph (1), the date on which a qualified live theatrical production commences is the date of the first public performance of such production for a paying audience.