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)]
<DOC>
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.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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