CREATE Act

119 HR 4840 IH: Creative Relief and Expensing for Artistic Entertainment Act U.S. House of Representatives 2025-08-01 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. I 119th CONGRESS 1st Session H. R. 4840 IN THE HOUSE OF REPRESENTATIVES August 1, 2025 Ms. Chu (for herself and Ms. Malliotakis ) introduced the following bill; which was referred to the Committee on Ways and Means 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 Artistic Entertainment 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.