[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2530 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 2530

  To amend the Internal Revenue Code of 1986 to expand the ability to 
                 expense certain qualified productions.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             July 30, 2025

 Mrs. Blackburn (for herself and Mr. Warnock) introduced the following 
  bill; which was read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to expand the ability to 
                 expense certain qualified 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 ``Creative Relief and Expensing for 
Audio and Television Enterprises Act'' or the ``CREATE Act''.

SEC. 2. ADJUSTMENT OF PROVISIONS APPLICABLE TO QUALIFIED PRODUCTIONS.

    (a) Dollar Limitations.--Section 181(a)(2) of the Internal Revenue 
Code of 1986, as amended by section 70434 of Public Law 119-21, is 
amended--
            (1) in subparagraph (A), by striking ``$15,000,000'' and 
        inserting ``$30,000,000'',
            (2) in subparagraph (B), by striking ``by substituting 
        `$20,000,000' for `$15,000,000'.'' and inserting ``by 
        substituting `$40,000,000' for `$30,000,000'.'', and
            (3) by adding at the end the following new subparagraph:
                    ``(D) Inflation adjustment.--
                            ``(i) In general.--In the case of any 
                        taxable year beginning in a calendar year after 
                        2026, each dollar amount in subparagraphs (A), 
                        (B), and (C) shall be increased by an amount 
                        equal to--
                                    ``(I) such dollar amount, 
                                multiplied by
                                    ``(II) the cost-of-living 
                                adjustment determined under section 
                                1(f)(3) for the calendar year in which 
                                the taxable year begins, determined by 
                                substituting `calendar year 2025' for 
                                `calendar year 2016' in subparagraph 
                                (A)(ii) thereof.
                            ``(ii) Rounding.--Any increase determined 
                        under clause (i) shall be rounded to the 
                        nearest multiple of $1,000.''.
    (b) Extension of Termination.--Subsection (h) of section 181 of 
such Code, as redesignated and amended by section 70434 of Public Law 
119-21, is amended by striking ``December 31, 2025'' and inserting 
``December 31, 2030''.
    (c) Effective Date.--The amendments made by this section shall 
apply to productions commencing in taxable years ending after December 
31, 2025.
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