Section 1 Short title
This Act may be cited as the “Puerto Rico Film, Television, and Theatre Production Act of 2018”.
Puerto Rico Film, Television, and Theatre Production Act of 2018
A BILL
To amend the Internal Revenue Code of 1986 to apply the rules related to the treatment of certain qualified film and television and live theatrical productions to Puerto Rico.
Sec. 2 Application of rules for certain qualified film and television and live theatrical productions to Puerto Rico
Inclusion of Puerto Rico— Section 181(d)(3)(A) of the Internal Revenue Code of 1986 is amended by inserting “(including Puerto Rico)” after “United States”.
Extension for Puerto Rico— Section 181(g) of such Code is amended to read as follows:
“(g) Termination
“(1) United States other than Puerto Rico—In the case of any production commencing after December 31, 2017, subsection (d)(3)(A) shall be applied by substituting “Puerto Rico” for “United States (including Puerto Rico)”.
“(2) Final termination—This section shall not apply to productions commencing after December 31, 2021.”
Effective date—
In general— The amendment made by subsection (a) shall apply to productions commencing after December 31, 2016.
Extension for Puerto Rico— The amendment made by subsection (b) shall apply to productions commencing after December 31, 2017.