Lobbying Push for 20% Federal Tax Credit for Film and TV Production
What happened
Lobbying groups, including the U.S. Travel Association, are advocating for the Motion Picture, Television, and Entertainment Revitalization Act. The bill proposes a 20% federal tax credit for labor on film and TV productions made in the United States. The legislation also includes 5% bonuses for independent film and for productions filmed in rural or disaster zones.
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Why it matters
Proponents argue that domestic film and TV production generates economic activity throughout the travel economy, benefiting hotels, restaurants, and small businesses. The bill currently has 52 sponsors in the House of Representatives and 10 sponsors in the Senate.
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Who's involved
- Geoff FreemanRepresents U.S. Travel Association interests in the House of Representatives
- house of representativesIs the legislative body where the Motion Picture, Television, and Entertainment Revitalization Act is being debated
- federal governmentIs the entity responsible for creating and administering the proposed tax incentive
- senateIs the legislative body that must review and vote on the proposed tax legislation
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- GeorgiaSpeculative
Georgia could see increased production revenue if the tax incentives draw filming activity to the state
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.- Film tax credit bill goes to Ways and Means CommitteeA tax incentive bill requires review by the Ways and Means CommitteeLikely
- Senate may review film tax incentive bill for passageThe Senate may review the film tax incentive bill for passagePossible
- Georgia may benefit from federal film production tax creditsGeorgia may see increased production revenue from new federal tax incentivesPossible
- Federal government may implement 20% tax credit for film productionFederal government may create 20% tax credit for film and TV productionPossible
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The entities involved
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Geoff Freeman
American chief executive
Nothing else this week.
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house of representatives
general term for legislative bodies