H.R. 3389, To amend the Internal Revenue Code of 1986 to make permanent the election to treat the cost of qualified film and television productions as an expense which is not chargeable to capital account

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H.R. 3389 would amend the Internal Revenue Code of 1986 to make permanent the election to treat the cost of qualified film and television productions as an expense which is not chargeable to capital account.

Detailed Summary

Amends the Internal Revenue Code to make permanent the taxpayer election to expense qualified film and television production costs in the current taxable year.

Status of the Legislation

Latest Major Action: 8/9/2007: Referred to House subcommittee. Status: Referred to the Subcommittee on Trade.

Points in Favor

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Points Against

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