,,ii  #aac? ,,congress  #b;d ,session   
,s4 #bahj  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,m>* #bg1 #bjad ,mr4   
,s*um] 7= himself & ,mr4 ,blunt7        
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to ext5d tax      
inc5tives to c]ta9 live !atrical        
p]=mances1 & = o!r purposes4  #a4  ,%ort
 title  ,?is ,act may be cit$ z !       
,support ,!at]s 9 ,am]ica ,gr[? &       
,expansion ,act or ! ,,/age ,act4  #b4  
,exp5s+ ( qualifi$ productions  7a7     
,ext5sion  ,subsection 7f7 ( section    
#aha ( ! ,int]nal ,rev5ue ,code ( #aihf 
is am5d$ by /rik+ ,decemb] #ca1 #bjac & 
ins]t+ ,decemb] #ca1 #bjae4  7b7        
,application to live productions  7#a7  
,9 g5]al  ,p>agraph 7#a7 ( section      
#aha7;a7 ( ! ,int]nal ,rev5ue ,code (   
#aihf is am5d$ by ins]t+ 1 & any        
qualifi$ live !atrical production1 aft] 
any qualifi$ film or television         
production4  7#b7  ,con=m+ am5dm5ts     

,section #aha ( su* ,code is am5d$--    
7,a7 by ins]t+ or any qualifi$ live     
!atrical production aft] qualifi$ film  
or television production ea* place x    
appe>s 9 subsections 7a77#b71 7b71 &    
7c71  7,b7 by ins]t+ or qualifi$ live   
!atrical productions aft] qualifi$ film 
or television productions 9 subsection  
7f71 &  7,c7 by ins]t+ & live !atrical  
aft] film & television 9 ! head+4  7c7  
,qualifi$ live !atrical production      
,section #aha ( ! ,int]nal ,rev5ue ,code
 ( #aihf is am5d$--  7#a7 by r$esignat+ 
subsections 7e7 & 7f71 z am5d$ by       
subsections 7a7 & 7b71 z subsections 7f7
 & 7g71 respectively1 &  7#b7 by ins]t+ 
aft] subsection 7d7 ! foll[+ new        
subsection3  7e7  ,qualifi$ live        
!atrical production  ,= purposes ( ?is  
section--  7#a7  ,9 g5]al  ,! t]m       
qualifi$ live !atrical production means 
any production describ$ 9 p>agraph 7#b7 
if #ge p]c5t ( ! total comp5sation ( !  
production is qualifi$ comp5sation 7z   
def9$ 9 subsection 7d77#c774  7#b7      

,production  7,a7  ,9 g5]al  ,a         
production is describ$ 9 ?is p>agraph if
 su* production is a live /ag$          
production ( a play 7) or )\t music7 :i*
 is d]iv$ f a writt5 book or script & is
 produc$ or pres5t$ by a comm]cial      
entity 9 any v5ue :i* has an audi5ce    
capacity ( n m ?an #c1jjj or a s]ies (  
v5ues ! majority ( :i* h an audi5ce     
capacity ( n m ?an #c1jjj4  7,b7  ,t\r+ 
companies1 etc  ,9 ! case ( multiple    
live /ag$ productions--  7i7 = :i* !    
election "u ?is section w\ld be all[able
 to ! same taxpay]1 &  7ii7 :i* are--   
7,i7 sep>ate phases 7)9 ! mean+ (       
section #dfi7;g77#d77;,b77 ( a          
production1 or  7,,ii7 sep>ate          
simultane\s /ag+s ( ! same production 9 
diff]5t geographical locations 7n       
includ+ multiple p]=mance locations (   
any "o t\r+ production71  ea* su* live  
/ag$ production %all be treat$ z a      
sep>ate production4  7,c7  ,exception   
,a production is n describ$ 9 ?is       
p>agraph if su* production includes or  

consi/s ( any p]=mance ( conduct        
describ$ 9 section #bbeg7;h77#a7 ( title
 #ah1 ,unit$ ,/ates ,code4  4  7d7      
,effective dates  7#a7  ,9 g5]al  ,!    
am5dm5ts made by ?is section %all apply 
to productions comm5c+ aft] ,decemb]    
#ca1 #bjac4  7#b7  ,comm5cem5t  ,=      
purposes ( p>agraph 7#a71 ! date on :i* 
a qualifi$ live !atrical production     
comm5ces is ! date ( ! fir/ public      
p]=mance ( su* production = a pay+      
audi5ce4  #c4  ,dispositions ( int]e/ 9 
!atrical productions z passive activity 
7a7  ,9 g5]al  ,subsection 7g7 ( section
 #dfi ( ! ,int]nal ,rev5ue ,code ( #aihf
 is am5d$ by add+ at ! end ! foll[+ new 
p>agraph3  7#d7  ,special rule = int]e/ 
9 qualifi$ live !atrical productions    
7,a7  ,9 g5]al  ,9 ! case ( an int]e/ 9 
a qualifi$ live !atrical production 7z  
def9$ 9 section #aha7;e77#a77 z a       
passive activity--  7i7 ea* phase ( su* 
production %all be treat$ sep>ately =   
purposes ( ?is subsection1 &  7ii7 !    
t]m9ation ( any phase ( su* production 9

 :i* ! taxpay] holds an int]e/ z a      
passive activity %all be treat$ z a     
disposition ( su* taxpay]'s entire      
int]e/ 9 su* passive activity4  7,b7    
,phase  ,= purposes ( subp>agraph 7,a71 
! t]m phase ) respect to any qualifi$   
live !atrical production ref]s to ea* ( 
! foll[+1 b only if ea* ( ! foll[+ is   
treat$ z a sep>ate activity by ! taxpay]
 = all purposes ( ?is title3  7i7 ,!    
initial /ag+ ( a live !atrical          
production4  7ii7 ,subsequ5t additional 
/ag+s or t\r+ ( su* production :i* are  
produc$ by ! same produc] z ! initial   
/ag+4  7iii7 ,disposition ( copyrights1 
lic5s+ rights1 or subsidi>y rights 9    
connection ) su* production4  4  7b7    
,effective date  ,! am5dm5t made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjac4