The Motion Picture, Television, and Entertainment Revitalization Act creates a federal tax credit to encourage film and television production in the United States. The credit provides 20% of qualified compensation paid to U.S.-based workers on eligible productions, with potential bonuses reaching up to 30% for work in rural areas, disaster zones, independent producers, or productions relocating from foreign countries. Eligible projects include feature films, television pilots, and television seasons with budgets over $1 million and at least 75% of principal photography occurring in the United States, excluding talk shows, news programs, sports content, and advertisements. The tax credit applies to productions beginning principal photography on or after January 1, 2027, and can be transferred to other parties and used as a general business credit, with the Treasury Secretary authorized to issue regulations and require reporting on production activities.