Puerto Rico Film, Television, and Theatre Production Act of 2018

Puerto Rico Film, Television, and Theatre Production Act of 2018

This bill amends the Internal Revenue Code; with respect to rules that allow the expensing of certain costs of qualified film, television, and live theatrical productions; to: (1) apply the rules to Puerto Rico, and (2) extend the rules through 2021 for Puerto Rico. (Under current law, the rules apply through 2017 for productions with costs that include a specified amount of compensation for services performed in the United States.)

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5183 Introduced in House (IH)]

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115th CONGRESS
  2d Session
                                H. R. 5183

 To amend the Internal Revenue Code of 1986 to apply the rules related 
  to the treatment of certain qualified film and television and live 
                 theatrical productions to Puerto Rico.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 6, 2018

Miss Gonzalez-Colon of Puerto Rico (for herself, Mr. Soto, and Mr. King 
 of New York) 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 apply the rules related 
  to the treatment of certain qualified film and television and live 
                 theatrical productions to Puerto Rico.

    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 ``Puerto Rico Film, Television, and 
Theatre Production Act of 2018''.

SEC. 2. APPLICATION OF RULES FOR CERTAIN QUALIFIED FILM AND TELEVISION 
              AND LIVE THEATRICAL PRODUCTIONS TO PUERTO RICO.

    (a) Inclusion of Puerto Rico.--Section 181(d)(3)(A) of the Internal 
Revenue Code of 1986 is amended by inserting ``(including Puerto 
Rico)'' after ``United States''.
    (b) Extension for Puerto Rico.--Section 181(g) of such Code is 
amended to read as follows:
    ``(g) Termination.--
            ``(1) United states other than puerto rico.--In the case of 
        any production commencing after December 31, 2017, subsection 
        (d)(3)(A) shall be applied by substituting `Puerto Rico' for 
        `United States (including Puerto Rico)'.
            ``(2) Final termination.--This section shall not apply to 
        productions commencing after December 31, 2021.''.
    (c) Effective Date.--
            (1) In general.--The amendment made by subsection (a) shall 
        apply to productions commencing after December 31, 2016.
            (2) Extension for puerto rico.--The amendment made by 
        subsection (b) shall apply to productions commencing after 
        December 31, 2017.
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