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To amend the Internal Revenue Code of 1986 to expand the ability to expense certain qualified productions.
Summary
This bill, titled the CREATE Act, modifies federal tax deductions available to film and television production companies. It increases the maximum amount of qualified production expenses that can be deducted from $15 million to $30 million for most productions, and from $20 million to $40 million for productions in certain areas. The bill adds an automatic inflation adjustment starting in 2027 that will annually increase these dollar limits based on the cost-of-living adjustment. The bill also extends the deadline for these tax incentives from December 31, 2025, to December 31, 2030. These changes are intended to increase the tax incentive available to the film and television production industry.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
1 cosponsor
Actions (2)
- Jul 30, 2025 Read twice and referred to the Committee on Finance. · senate
- Jul 30, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
July 30, 2025
Mrs. Blackburn (for herself and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to expand the ability to expense certain qualified productions.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Creative Relief and Expensing for Audio and Television Enterprises Act” or the “CREATE Act”.
SEC. 2. ADJUSTMENT OF PROVISIONS APPLICABLE TO QUALIFIED PRODUCTIONS.
(a) Dollar Limitations.—Section 181(a)(2) of the Internal Revenue Code of 1986, as amended by section 70434 of Public Law 119-21, is amended—
(1) in subparagraph (A), by striking “$15,000,000” and inserting “$30,000,000”,
(2) in subparagraph (B), by striking “by substituting ‘$20,000,000’ for ‘$15,000,000’.” and inserting “by substituting ‘$40,000,000’ for ‘$30,000,000’.”, and
(3) by adding at the end the following new subparagraph:
“(D) Inflation adjustment.—
“(i) In general.—In the case of any taxable year beginning in a calendar year after 2026, each dollar amount in subparagraphs (A),
(B), and (C) shall be increased by an amount equal to—
“(I) such dollar amount, multiplied by
“(II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting ‘calendar year 2025’ for ‘calendar year 2016’ in subparagraph
(A)(ii) thereof.
“(ii) Rounding.—Any increase determined under clause (i) shall be rounded to the nearest multiple of $1,000.”.
(b) Extension of Termination.—Subsection (h) of section 181 of such Code, as redesignated and amended by section 70434 of Public Law 119-21, is amended by striking “December 31, 2025” and inserting “December 31, 2030”.
(c) Effective Date.—The amendments made by this section shall apply to productions commencing in taxable years ending after December 31, 2025. <all>
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