,,ii  #aaeth ,,congress  #ast ,session  
,s4 #adfi  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,june #bh1     
#bjag,mr4 ,blunt 7for himself1 ,mr4     
,schumer1 ,mr4 ,isakson1 and ,mr4       
,cardin7 introduced the following bill2 
which was read twice and referred to the
 ,committee on ,finance  ,a ,,bill  ,to 
amend the ,internal ,revenue ,code of   
#aihf to extend tax incentives to       
permanently extend the special expensing
 rules for certain film1 television1 and
 live theatrical productions1 and for   
other purposes4  #a4 ,short title ,this 
,act may be cited as the ,lift          
,investment in ,film1 ,television1 and  
,theater ,act or the ,,liftt ,act4  #b4 
,permanent extension of expensing of    
qualified productions  7a7 ,permanent   
extension ,section #aha of the ,internal
 ,revenue ,code of #aihf is amended by  
striking subsection 7g74  7b7           
,modification of rules for election     
,paragraph 7#a7 of section #aha7;c7 of  
the ,internal ,revenue ,code of #aihf is

 amended-- 7#a7 by striking for the     
taxable year in which and inserting     
for-- 7#a7 in the case of a qualified   
film or television production1 the      
taxable year in which  2  7#b7 by       
striking the period at the end and      
inserting 1 and2 and  7#c7 by adding at 
the end the following new paragraph3    
7#b7 in the case of a qualified live    
theatrical production1 the taxable year 
in which such theatrical production     
holds its first public performance4  4  
7c7 ,effective date  7#a7 ,in general   
,the amendments made by this section    
shall apply to productions commencing   
after ,december #ca1 #bjaf4  7#b7       
,commencement ,for purposes of paragraph
 7#a71 the date on which a qualified    
live theatrical production commences is 
the date of the first public performance
 of such production for a paying        
audience4