S. 2530

119 S2530 IS: Creative Relief and Expensing for Audio and Television Enterprises Act
 U.S. Senate
 2025-07-30
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 2530  IN THE SENATE OF THE UNITED STATES   July 30, 2025   Mrs. Blackburn  (for herself and  Mr. Warnock ) introduced the following bill; which was read twice and referred to the  Committee on Finance    A BILL
To amend the Internal Revenue Code of 1986 to expand the ability to expense certain qualified productions.
1.
Short title
This Act may be cited as the   Creative Relief and Expensing for Audio and Television Enterprises Act   or the   CREATE Act  .
2.
Adjustment of provisions applicable to qualified productions
(a)
Dollar limitations
 Section 181(a)(2)  of the Internal Revenue Code of 1986, as amended by section 70434 of  Public Law 119–21 , is amended—
(1)
in subparagraph (A), by striking  $15,000,000  and inserting  $30,000,000 ,
(2)
in subparagraph (B), by striking  by substituting  $20,000,000  for  $15,000,000 .  and inserting  by substituting  $40,000,000  for  $30,000,000 . , and
(3)
by adding at the end the following new subparagraph:
(D)
Inflation adjustment
(i)
In general
In the case of any taxable year beginning in a calendar year after 2026, each dollar amount in subparagraphs (A), (B), and (C) shall be increased by an amount equal to—
(I)
such dollar amount, multiplied by
(II)
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting  calendar year 2025  for  calendar year 2016  in subparagraph (A)(ii) thereof.
(ii)
Rounding
Any increase determined under clause (i) shall be rounded to the nearest multiple of $1,000.
 .
(b)
Extension of termination
Subsection (h) of section 181 of such Code, as redesignated and amended by section 70434 of  Public Law 119–21 , is amended by striking  December 31, 2025  and inserting  December 31, 2030 .
(c)
Effective date
The amendments made by this section shall apply to productions commencing in taxable years ending after December 31, 2025.