Expands tax benefits for qualified productions by increasing expense limits and extending the program.

The CREATE Act amends the Internal Revenue Code to increase the dollar limits for qualified productions from $15 million to $30 million and from $20 million to $40 million. It also introduces an inflation adjustment for taxable years beginning after 2026. Additionally, the bill extends the termination date of the program from December 31, 2025, to December 31, 2030. These changes apply to productions starting in taxable years ending after December 31, 2025.

Expands tax benefits for qualified productions by increasing expense limits and extending the program.

The CREATE Act amends the Internal Revenue Code to increase the dollar limits for qualified productions from $15 million to $30 million and from $20 million to $40 million. It also introduces an inflation adjustment for taxable years beginning after 2026. Additionally, the bill extends the termination date of the program from December 31, 2025, to December 31, 2030. These changes apply to productions starting in taxable years ending after December 31, 2025.