S. 3330, The Domestic Film Production Equity Act of 2008

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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S. 3330 would amend the Internal Revenue Code of 1986 to modify the deduction for domestic production activities for film and television productions.

Detailed Summary

Domestic Film Production Equity Act of 2008 - Amends Internal Revenue Code provisions relating to the tax deduction for domestic film and television production activities to: (1) include within the income base for such deduction compensation for services performed in the United States by actors, production personnel, directors, and producers and any copyrights, trademarks, or other intangibles with respect to a film production; and (2) allow a deduction for partners or S corporation shareholders who own at least a 20% interest in a film project.

Status of the Legislation

Latest Major Action: 7/24/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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