117th CONGRESS 1st Session |
To amend the Internal Revenue Code of 1986 to allow accelerated depreciation of certain qualified film and television and live theatrical productions in Puerto Rico.
March 10, 2021
Miss González-Colón introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to allow accelerated depreciation of certain qualified film and television and live theatrical productions in Puerto Rico.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
This Act may be cited as the “Puerto Rico Film, Television, and Theatre Production Act of 2021”.
SEC. 2. Accelerated depreciation for certain qualified film and television and live theatrical productions in Puerto Rico.
(a) In general.—Section 181(d)(3)(A) of the Internal Revenue Code of 1986 is amended by inserting “(including Puerto Rico)” after “United States”.
(b) Effective date.—The amendment made by this section shall take effect as if included in section 13201 of Public Law 115–97.
(c) Cross reference.—For application of accelerated depreciation to qualified film or television productions and qualified live theatrical productions (as defined in section 181 of the Internal Revenue Code of 1986, as amended by this section), see section 168(k)(2)(A) of the Internal Revenue Code of 1986.