Provide a 20 percent federal labor-based tax credit for qualifying U.S. film and television productions, with bonus credits up to 30 percent for specified production categories.

The Motion Picture, Television, and Entertainment Revitalization Act would: Spur American jobs and economic development by providing a 20% federal, labor-based tax credit to U.S. film and television productions with minimum spend of $1 million and where at least 75% of the principal photography days occur within the U.S; Offer 5% bonus credit allowances, increasing the base credit up to a maximum of 30%, for productions in rural opportunity zones and areas impacted by disasters, independent productions, multi-state producers in 10+ states, and producers who show a measurable onshoring of productions;

The press release describes Schiff's bill as providing a 20 percent federal labor-based credit for qualifying U.S. productions and additional 5 percent bonuses up to 30 percent.

NEWS: Momentum Already Building for Sens. Tim Scott, Adam Schiff Bill to Establish a Federal Film Tax Credit with 8 New Bipartisan Backers in Senate
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