S. 3330Senate110th Congress (2007-2009)In Committee

Domestic Film Production Equity Act of 2008

Introduced July 24, 2008

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7300)

July 24, 2008

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SenateIntro Referral

Introduced in Senate

July 24, 2008

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S7299)

July 24, 2008

SenateIntro Referral

Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7300)

July 24, 2008

Floor Debate

9 members

What members said about S. 3330 on the floor

3 Republicans6 Democrats
Chuck Grassley
Sen. Chuck GrassleyR-IA · Jul 24, 2008

Mr. President, I am pleased to join my colleague Senator Kerry today to introduce the Empowered at Home Act. This bill is a continuation of efforts that I undertook in 2005 to improve access to home…

John F. Kerry
Sen. John F. KerryD-MA · Jul 24, 2008

Mr. President, every day millions of Americans are faced with significant challenges when it comes to meeting their own personal needs or caring for a loved one who needs significant support. Many…

Richard J. Durbin
Sen. Richard J. DurbinD-IL · Jul 24, 2008

Mr. President, I rise today to introduce legislation designed to make it easier for students to reach college and to succeed in college. An educated workforce is crucial to the success of the…

Patrick J. Leahy
Sen. Patrick J. LeahyD-VT · Jul 24, 2008

Mr. President, before I was a Senator, I was a prosecutor, as the Chittenden County State's Attorney for 8 years, I prosecuted all varieties of crime in Vermont. I know first hand how important it is…

Joseph I. Lieberman
Sen. Joseph I. LiebermanD-CT · Jul 24, 2008

Mr. President, the United States has been the most innovative, technologically capable economy in the world. Yet our science, technology, engineering, and mathematics, STEM, education system is…

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Arlen Specter
Sen. Arlen SpecterR-PA · Jul 24, 2008

Mr. President, I am pleased to speak today on the introduction of the Enforcement of Intellectual Property Rights Act of 2008, which I am sponsoring with Senator Leahy. The United States has always…

Max Baucus
Sen. Max BaucusD-MT · Jul 24, 2008

Mr. President, I am pleased today to join with my friend Senator Crapo to introduce an important piece of legislation that would help to strengthen the financial health of America's firearm and…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Jul 24, 2008

Mr. President, I rise today to introduce legislation to stimulate domestic film production and create jobs. I am pleased to be joined by my colleague from Oregon, Senator Gordon Smith. Our bill, the…

Dianne Feinstein
Sen. Dianne FeinsteinD-CA · Jul 24, 2008

Mr. President, I rise today to introduce legislation to stimulate domestic film production and create jobs. I am pleased to be joined by my colleague from Oregon, Senator Gordon Smith. Our bill, the…

Ted Stevens
Sen. Ted StevensR-AK · Jul 24, 2008

Mr. President, currently, annual catch limits for subsistence whaling by Alaskan natives is set through periodic negotiations of the international whaling commission. In setting the quota, the IWC…

Bill Text

Latest available legislative text

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Introduced in SenateIssued July 24, 2008

II

110th CONGRESS

2d Session

S. 3330

IN THE SENATE OF THE UNITED STATES

July 24 (legislative day, July 23), 2008

Mrs. Feinstein (for herself and Mr. Smith) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to modify the deduction for domestic production activities for film and television productions, and for other purposes.

1.

Short title

This Act may be cited as the Domestic Film Production Equity Act of 2008.

2.

Provisions related to film and television productions

(a)

Modifications to deduction for domestic activities

(1)

Determination of W–2 wages

Paragraph (2) of section 199(b) of the Internal Revenue Code of 1986 (relating to W–2 wages) is amended by adding at the end the following new subparagraph:

(D)

Special rule for qualified film

In the case of a qualified film, such term shall include compensation for services performed in the United States by actors, production personnel, directors, and producers.

.

(2)

Definition of qualified film

Paragraph (6) of section 199(c) of such Code (relating to qualified film) is amended by adding at the end the following: A qualified film shall include any copyrights, trademarks, or other intangibles with respect to such film. The methods and means of distributing a qualified film shall not affect the availability of the deduction under this section..

(3)

Partnerships

Subparagraph (A) of section 199(d)(1) of such Code (relating to partnerships and S corporations) is amended by striking and at the end of clause (ii), by striking the period at the end of clause (iii) and inserting , and, and by adding at the end the following new clause:

(iv)

in the case of each partner of a partnership, or shareholder of an S corporation, who owns (directly or indirectly) at least 20 percent of the capital interests in such partnership or of the stock of such S corporation—

(I)

such partner or shareholder shall be treated as having engaged directly in any film produced by such partnership or S corporation, and

(II)

such partnership or S corporation shall be treated as having engaged directly in any film produced by such partner or shareholder.

.

(b)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2007.