US SB1469 | 2017-2018 | 115th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on June 28 2017 - 25% progression, died in committee
Action: 2017-06-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on June 28 2017 - 25% progression, died in committee
Action: 2017-06-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
LIFTT Act Lift Investment in Film, Television, and Theater Act This bill amends the Internal Revenue Code to permanently extend provisions that allow taxpayers to elect to expense the costs of qualified film, television, and live theatrical productions. The bill also modifies the rules for electing to expense the costs. Under current law, an election to expense the costs of a film, television, or live theatrical production must be made by the due date for filing a tax return for the year in which the costs are first incurred. With respect to live theatrical productions, the bill modifies the rule to require an election to be made by the due date for filing a tax return for the taxable year in which the production holds its first public performance for a paying audience.
Title
LIFTT Act Lift Investment in Film, Television, and Theater Act
Sponsors
Sen. Roy Blunt [R-MO] | Sen. Charles Schumer [D-NY] | Sen. Johnny Isakson [R-GA] | Sen. Benjamin Cardin [D-MD] |
History
Date | Chamber | Action |
---|---|---|
2017-06-28 | Senate | Read twice and referred to the Committee on Finance. |
Subjects
Business investment and capital
Income tax deductions
Performing arts
Tax administration and collection, taxpayers
Taxation
Television and film
Income tax deductions
Performing arts
Tax administration and collection, taxpayers
Taxation
Television and film
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/115th-congress/senate-bill/1469/all-info |
Text | https://www.congress.gov/115/bills/s1469/BILLS-115s1469is.pdf |