To amend the Internal Revenue Code of 1986 to extend the deduction for film and television productions and to make certain changes with respect to the calculation of such deduction.

This bill extends the federal tax deduction for film and television productions through 2030, replacing the previous 2025 expiration date. It increases the standard deduction limit from $15 million to $30 million per production and raises the special limit for projects in designated areas from $20 million to $40 million. The deduction amounts will automatically adjust for inflation after 2026 based on the Consumer Price Index. The policy directly affects producers of eligible U.S. film and television projects by providing extended tax benefits for qualifying productions commencing after enactment.