Film Tax Credit

Senators Tim Scott and Adam Schiff introduce bipartisan film tax credit for jobs.

Sen. Tim Scott (R-S.C.) has co-sponsored legislation to create a federal film and television tax credit, stating it would help boost U.S. blue-collar jobs and provide more diversity in how America is portrayed on screen. The Motion Picture, Television and Entertainment Revitalization Act would establish a 20% tax credit on U.K. labor costs for projects that shoot 75% of their principal photography days in America and have a total production budget of more than $1 million. The bill also provides bonus credits for independent productions and projects that film in federally-declared disaster areas or rural qualified opportunity zones. Scott is leading the legislative effort in the US Senate alongside Sen. Adam Schiff (D-Calif.), while a bipartisan coalition is pushing for the bill in the House of Representatives.