,i  #aaith ,,congress  #ast ,session    
,h4 ,r4 #dghg  ,,in ,,the ,,house ,,of  
,,representatives  ,july #bi1 #bjbe,ms4 
,chu introduced the following bill2     
which was referred to the ,committee on 
,ways and ,means  ,a ,,bill  ,to amend  
the ,internal ,revenue ,code of #aihf to
 extend the deduction for film and      
television productions and to make      
certain changes with respect to the     
calculation of such deduction4  #a4     
,film and television production         
deduction amendments  7a7 ,extension    
,section #aha7;g7 of the ,internal      
,revenue ,code of #aihf is amended by   
striking ,december #ca1 #bjbe and       
inserting ,december #ca1 #bjcj4  7b7    
,increase in dollar limitation ,section 
#aha7;a77#b77;,a7 of such ,code is      
amended to read as follows3  7,a7 ,in   
general ,paragraph 7#a7 shall not apply 
to so much of the aggregate cost of any 
qualified film or television production 
or any qualified live theatrical        
production as exceeds #cj1jjj1jjj4  4   

7c7 ,higher dollar limitation for       
productions in certain areas ,section   
#aha7;a77#b77;,b7 of such ,code is      
amended in the matter following clause  
7ii7 by striking substituting           
#bj1jjj1jjj for #ae1jjj1jjj and         
inserting substituting #dj1jjj1jjj for  
#cj1jjj1jjj4  7d7 ,inflation adjustment 
,section #aha7;a77#b7 of such ,code is  
amended by adding at the end the        
following new subparagraph3  7,c7       
,inflation adjustment  7i7 ,in general  
,in the case of any taxable year        
beginning in a calendar year after      
#bjbf1 each dollar amount in            
subparagraph 7,a7 or 7,b7 shall be      
increased by an amount equal to--  7,i7 
such dollar amount1 multiplied by       
7,,ii7 the cost-of-living adjustment    
determined under section #a7;f77#c7 for 
the calendar year in which the taxable  
year begins1 determined by substituting 
calendar year #bjbe for calendar year   
#bjaf in subparagraph 7,a77ii7 thereof4 
7ii7 ,rounding4--,any increase          

determined under clause 7i7 shall be    
rounded to the nearest multiple of      
#a1jjj4  4  7e7 ,effective date ,the    
amendments made by this section shall   
apply to productions commencing after   
the date of the enactment of this ,act4