IT’S alive! IT’S ALIVE! (SECTION 181 IS RESURRECTED)

 

Section 181 has a heartbeat.   

Just when you think something is gone for good, scientists, or in this case Republicans, figure out a way to bring it back.  Section 181, which we had declared dead as a Dodo, is back!  The Senate Amendment to the House Amendment to the Senate Amendment (only in America) to H.R. 4853 provides for an extension of Section 181 benefits through December 31, 2011.  The relevant text of the proposed Senate Amendment which is currently being debated in Congress today is below and the full text can be found by clicking here.

SEC. 744. SPECIAL EXPENSING RULES FOR CERTAIN FILM

(a) IN GENERAL —Subsection (f) of section 181 is amended by striking ‘‘December 31, 2009’’ and inserting ‘‘December 31, 2011’’.

(b) EFFECTIVE DATE—The amendment made by this section shall apply to productions commencing after December 31, 2009.

Now readers of our site and other film makers who have been following this saga know all too well that there have been similar proposals and promises of extensions over the last year.  Our job is not to report on the likelihood of success of any of these amendments, but to only let you know that they do, in fact, exist.  This Bill shows promise of passing relatively soon, so we will keep you posted the best we can.  If you get any news, please post a comment so others can follow along. 

As always, STAY TUNED!

AND TELEVISION PRODUCTIONS.

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