[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4878 Introduced in House (IH)]
113th CONGRESS
2d Session
H. R. 4878
To amend the Internal Revenue Code of 1986 to extend the special
expensing rules for certain film and television productions and to
provide for special expensing for live theatrical productions.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 17, 2014
Mr. Collins of Georgia (for himself, Mr. Crowley, Mr. Boustany, Ms.
Linda T. Sanchez of California, Mr. Neal, and Mr. Nunes) 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 extend the special
expensing rules for certain film and television productions and to
provide for special expensing for live theatrical productions.
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 ``Facilitating Investments in Local
Markets Act'' or the ``FILM Act''.
SEC. 2. EXTENSION OF SPECIAL EXPENSING RULES FOR CERTAIN FILM AND
TELEVISION PRODUCTIONS; SPECIAL EXPENSING FOR LIVE
THEATRICAL PRODUCTIONS.
(a) In General.--Subsection (f) of section 181 of the Internal
Revenue Code of 1986 is amended by striking ``December 31, 2013'' and
inserting ``December 31, 2015''.
(b) Application to Live Productions.--
(1) In general.--Paragraph (1) of section 181(a) of the
Internal Revenue Code of 1986 is amended by inserting ``, and
any qualified live theatrical production,'' after ``any
qualified film or television production''.
(2) Conforming amendments.--Section 181 of the Internal
Revenue Code of 1986 is amended--
(A) by inserting ``or any qualified live theatrical
production'' after ``qualified film or television
production'' each place it appears in subsections
(a)(2), (b), and (c)(1),
(B) by inserting ``or qualified live theatrical
productions'' after ``qualified film or television
productions'' in subsection (f), and
(C) by inserting ``and live theatrical'' after
``film and television'' in the heading.
(3) Clerical amendment.--The item relating to section 181
in the table of sections for part VI of subchapter B of chapter
1 of the Internal Revenue Code of 1986 is amended to read as
follows:
``Sec. 181. Treatment of certain qualified film and television and live
theatrical productions.''.
(c) Qualified Live Theatrical Production.--Section 181 of the
Internal Revenue Code of 1986 is amended--
(1) by redesignating subsections (e) and (f), as amended by
subsections (a) and (b), as subsections (f) and (g),
respectively, and
(2) by inserting after subsection (d) the following new
subsection:
``(e) Qualified Live Theatrical Production.--For purposes of this
section--
``(1) In general.--The term `qualified live theatrical
production' means any production described in paragraph (2) if
75 percent of the total compensation of the production is
qualified compensation (as defined in subsection (d)(3)).
``(2) Production.--
``(A) In general.--A production is described in
this paragraph if such production is a live staged
production of a play (with or without music) which is
derived from a written book or script and is produced
or presented by a taxable entity in any venue which has
an audience capacity of not more than 3,000 or a series
of venues the majority of which have an audience
capacity of not more than 3,000.
``(B) Touring companies, etc.--In the case of
multiple live staged productions--
``(i) for which the election under this
section would be allowable to the same
taxpayer, and
``(ii) which are--
``(I) separate phases of a
production, or
``(II) separate simultaneous
stagings of the same production in
different geographical locations (not
including multiple performance
locations of any one touring
production),
each such live staged production shall be treated as a
separate production.
``(C) Phase.--For purposes of subparagraph (B), the
term `phase' with respect to any qualified live
theatrical production refers to each of the following,
but only if each of the following is treated by the
taxpayer as a separate activity for all purposes of
this title:
``(i) The initial staging of a live
theatrical production.
``(ii) Subsequent additional stagings or
touring of such production which are produced
by the same producer as the initial staging.
``(D) Exception.--A production is not described in
this paragraph if such production includes or consists
of any performance of conduct described in section
2257(h)(1) of title 18, United States Code.''.
(d) Effective Dates.--
(1) In general.--The amendments made by this section shall
apply to productions commencing after December 31, 2013.
(2) Commencement.--For purposes of paragraph (1), the date
on which a qualified live theatrical production commences is
the date of the first public performance of such production for
a paying audience.
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