S. 1469 · 115th Congress
LIFTT Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BluntSponsor3 cosponsors · 2 D, 1 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Lift Investment in Film, Television, and Theater Act or the LIFTT Act
What it does: CRS summary · Introduced in Senate · Jun 28, 2017
Lift Investment in Film, Television, and Theater Act or the LIFTT Act
This bill amends the Internal Revenue Code to permanently extend provisions that allow taxpayers to elect to expense the costs of qualified film, television, and live theatrical productions.
The bill also modifies the rules for electing to expense the costs. Under current law, an election to expense the costs of a film, television, or live theatrical production must be made by the due date for filing a tax return for the year in which the costs are first incurred. With respect to live theatrical productions, the bill modifies the rule to require an election to be made by the due date for filing a tax return for the taxable year in which the production holds its first public performance for a paying audience.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: LIFTT Act
Also known as: Lift Investment in Film, Television, and Theater Act
Latest action (Jun 28, 2017): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 28, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.