Federal Film & TV Tax Credit Bill Adds Eight New Senate Cosponsors

A bill to establish a 20% federal film and TV tax credit has added eight new co-sponsors in the Senate, a boost to the legislation as backers pin their hopes on passage during Congress’ lame duck session.

Sen. John Cornyn (R-TX), Sen. Steve Daines (R-MT), Sen. Andy Kim (D-NJ), Sen. Bernie Moreno (R-OH), Sen. Alex Padilla (D-CA), Sen. Tim Sheehy (R-MT), Sen. Mark Warner (D-VA) and Sen. Raphael Warnock (D-GA) have signed on to the bill, called the Motion Picture, Television and Entertainment Revitalization Act. Sen. Adam Schiff (D-CA) and Sen. Tim Scott (R-SC) introduced the bill in the Senate last week, concurrently with a House version that also has a slate of bipartisan supporters.

The bill has the support of President Donald Trump, who urged lawmakers to establish such a credit in a Truth Social post late last month.

The credit would be available to projects with a minimum spend of $1 million and at least 75% of the principal photography days occur in the U.S. There also are addition 5% bonus credits for productions in rural opportunity zones and disaster recovery areas, as well as to independent productions and multi-state producers. Bonuses also are available to producers who bring production back to the U.S. in a measurable way. The incentive also will be a supplement to state credits.

With the House out until the midterms and the Senate leaving this week, the bill won’t advance before the November election. But backers are aiming for later in the year, perhaps as an attachment to year-end spending legislation.