Hotel and travel groups back 20% film production tax credit
The American Hotel & Lodging Association and the U.S. Travel Association endorsed the Motion Picture, Television, and Entertainment Revitalization Act, which now has 52 House sponsors.
The American Hotel & Lodging Association and the U.S. Travel Association have endorsed the Motion Picture, Television, and Entertainment Revitalization Act, a bill that would create a 20% federal tax credit for labor on U.S. film and television productions.
The bill also includes 5% bonuses for independent film productions and for filming in rural areas and disaster zones. It now has 52 sponsors in the House of Representatives and 10 in the Senate, according to Variety.
House sponsors include 15 from California, six from Pennsylvania, four from New York, and three each from New Jersey, Illinois and Georgia.
The House bill has been referred to the Ways and Means Committee, and the Senate version to the Finance Committee. Supporters hope to pass the bill during the lame duck session that begins a week after the midterm election.
Earlier backing from the industry
Last month, a bipartisan group of lawmakers introduced the bill. The Motion Picture Association, the Independent Film and Television Alliance and all of the Hollywood unions also back it.
Quick answers
What does the Motion Picture, Television, and Entertainment Revitalization Act offer?
It would create a 20% federal tax credit for labor on U.S. film and TV productions, with 5% bonuses for independent film and for filming in rural areas and disaster zones.
Who supports the bill?
It has 52 House sponsors and 10 Senate sponsors, and is backed by the American Hotel & Lodging Association, the U.S. Travel Association, the Motion Picture Association, the Independent Film and Television Alliance and all of the Hollywood unions.
What happens next for the bill?
The House version is before the Ways and Means Committee and the Senate version before the Finance Committee. Supporters hope to pass it during the lame duck session that begins a week after the midterm election.