Senate to Discuss Section 181 Extension
The Senate is set to get back to work on Tuesday, January 19, 2010. After the MLK holiday, the Senate Finance Committee, based on its press release and the staffers’ opinion, the Tax Extender Bill will be debated. Of ultimate importance to film makers, the proposed extension of Section 181 is one of the extensions contained within the Bill.
It is unclear what portions of the Bill or if the whole Bill will be adopted, debated, amended, etc. We all must continue to have the patience we have had for the last several months while our government “springs” into action.
As always, stay tuned. I’ll try to post as soon as I hear one way or the other.
Good evening, L4M,
I see your tweet above that Sens. Reid and Baucus insinuate passage 181. My last tracking of this extension was that it was incorporated in the HIRE legislation in the Senate version of HR 2847 as section 545.
I am not by any means a scholar of the legislative process but what I see is that the old Tax Extenders Act of 2009, HR 4213 has been released from the Senate Committee on Finance and is currently (3/6/10) under consideration by the whole Senate described as you note in earlier posts under section 117.
I’m guessing that the December 22 statement by Sens. Baucus and Grassley is to be taken as true and that 181 will be extended to now expire 12/31/10 I hope.
thank you for your comment! I believe you are correct. The fact that 181 has been included in multiple bills is par for the course. Senators and Representatives often fill bills with pork. This time the pork is extremely helpful. I was waiting to see if the senate approved this current bill before writing a full update, buy might share this news with others ahead of time. Thanks for reading!