119th (2025–2027)
H.R. 4787
H.R. 4787 extends and expands a federal tax deduction for film and television production companies. The bill extends the deduction deadline from the end of 2025 to the end of 2030, allowing more time for the industry to take advantage of the tax benefit. It also increases the dollar limits on how much production costs can be deducted, raising the general cap from $15 million to $30 million per production and the cap for productions in certain areas from $20 million to $40 million. Additionally, the bill adds automatic inflation adjustments starting in 2027 to keep these limits relevant over time. These changes apply to any film, television, or live theatrical productions that begin after the bill is signed into law.