HR 376
Puerto Rico Film, Television, and Theatre Production Act of 2023
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill aims to boost film, television, and theater production in Puerto Rico by changing federal tax laws. It allows companies producing these types of projects in Puerto Rico to immediately deduct the cost of equipment and property used in those productions, rather than spreading those deductions out over several years. This change is intended to incentivize investment and create jobs within the Puerto Rican entertainment industry. The bill modifies existing tax code to specifically include Puerto Rico in the list of locations eligible for accelerated depreciation.
Sponsors
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Primary sponsor
Jenniffer [R-PR-At Large] Rescom. González-Colón
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