,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #diee  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,decemb] #c1 #bjbj,mrs4
 ,fe9/e9 7= h]self & ,mrs4 ,blackburn7  
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide = an   
election to exp5se c]ta9 qualifi$ s\nd  
record+ co/s o!rwise *>geable to capital
 acc\nt4  #a4 ,%ort title ,?is ,act may 
be cit$ z ! ,help ,indep5d5t ,tracks    
,succe$ ,act or ! ,,hits ,act4  #b4     
,treatm5t ( c]ta9 qualifi$ s\nd record+ 
productions  7a7 ,election ,to treat    
co/s z exp5ses ,section #aha7;a77#a7 ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by /rik+ qualifi$ film or television   
production1 & any qualifi$ live !atrical
 production1 & ins]t+ qualifi$ film or  
television production1 any qualifi$ live
 !atrical production1 & any qualifi$    
s\nd record+ production4  7b7 ,doll>    
limitation ,section #aha7;a77#b7 ( su*  
,code is am5d$ by add+ at ! end ! foll[+

 new p>agraph3  7,c7 ,qualifi$ s\nd     
record+ production ,p>agraph 7#a7 %all n
 apply to s mu* ( ! aggregate co/ ( any 
qualifi$ s\nd record+ production1 or to 
s mu* ( ! aggregate1 cumulative co/ (   
all su* qualifi$ s\nd record+           
productions 9 ! taxable ye>1 z exce$s   
#aej1jjj4  4  7c7 ,no o!r d$uction or   
amortization d$uction all[able ,section 
#aha7;b7 ( su* ,code is am5d$ by /rik+  
qualifi$ film or television production  
or any qualifi$ live !atrical production
 & ins]t+ qualifi$ film or television   
production1 any qualifi$ live !atrical  
production1 or any qualifi$ s\nd record+
 production4  7d7 ,election ,section    
#aha7;c77#a7 ( su* ,code is am5d$ by    
/rik+ qualifi$ film or television       
production or any qualifi$ live !atrical
 production & ins]t+ qualifi$ film or   
television production1 any qualifi$ live
 !atrical production1 or any qualifi$   
s\nd record+ production4  7e7 ,qualifi$ 
s\nd record+ production def9$ ,section  
#aha ( su* ,code is am5d$ by r$esignat+ 

subsections 7f7 & 7g7 z subsections 7g7 
& 7h71 respectively1 & by ins]t+ aft]   
subsection 7e7 ! foll[+ new subsection3 
7f7 ,qualifi$ s\nd record+ production ,=
 purposes ( ?is section1 ! t]m qualifi$ 
s\nd record+ production means a s\nd    
record+ 7z def9$ 9 section #aja ( title 
#ag1 ,unit$ ,/ates ,code7 produc$ &     
record$ 9 ! ,unit$ ,/ates4  4  7f7      
,bonus depreciation  7#a7 ,qualifi$ s\nd
 record+ production z qualifi$ prop]ty  
,section #afh7k77#b77;,a77i7 ( su* ,code
 is am5d$-- 7,a7 by /rik+ or at ! end ( 
subclause 7,,iv71 by add+ or at ! end ( 
subclause 7,v71 & by ins]t+ aft]        
subclause 7,v7 ! foll[+3  7,,vi7 :i* is 
a qualifi$ s\nd record+ production 7z   
def9$ 9 subsection 7f7 ( section #aha7 =
 :i* a d$uction w\ld h be5 all[able "u  
section #aha )\t reg>d to subsections   
7a77#b7 & 7h7 ( su* section or ?is      
subsection1  2 &  7,b7 9 subclauses     
7,,iv7 & 7,v7 7z am5d$7 by /rik+ )\t    
reg>d to subsections 7a77#b7 & 7g7 bo?  
places x appe>s & ins]t+ )\t reg>d to   

subsections 7a77#b7 & 7h74  7#b7        
,production plac$ 9 s]vice ,section     
#afh7k77#b77;,h7 ( su* ,code is am5d$ by
 /rik+ & at ! end ( clause 7i71 by /rik+
 ! p]iod at ! end ( clause 7ii7 & ins]t+
 1 &1 & by add+ aft] clause 7ii7 !      
foll[+3  7iii7 a qualifi$ s\nd record+  
production %all be consid]$ to be plac$ 
9 s]vice at ! "t ( initial release or   
broadca/4  4  7g7 ,con=m+ am5dm5ts  7#a7
 ,! head+ = section #aha ( su* ,code is 
am5d$ to read z foll[s3 ,treatm5t (     
c]ta9 qualifi$ productions44  7#b7 ,!   
table ( sections = "p ,,vi ( sub*apt] ,b
 ( *apt] #a ( su* ,code is am5d$ by     
/rik+ ! item relat+ to section #aha &   
ins]t+ ! foll[+ new item3  ,sec4 #aha4  
,treatm5t ( c]ta9 qualifi$ productions4 
4  7h7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to productions
 comm5c+ 9 taxable ye>s end+ aft] ! date
 ( ! enactm5t ( ?is ,act4