CREATE Act

Section 181(a)(2) of the Internal Revenue Code of 1986, as amended by section 70434 of Public Law 119–21, is amended—

(1) in subparagraph (A), by striking $15,000,000 and inserting $30,000,000,

(2) in subparagraph (B), by striking by substituting $20,000,000 for $15,000,000. and inserting by substituting $40,000,000 for $30,000,000., and

(3) by adding at the end the following new subparagraph:

In the case of any taxable year beginning in a calendar year after 2026, each dollar amount in subparagraphs (A), (B), and (C) shall be increased by an amount equal to—

(I) such dollar amount, multiplied by

(II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2025 for calendar year 2016 in subparagraph (A)(ii) thereof.

Any increase determined under clause (i) shall be rounded to the nearest multiple of $1,000.

Subsection (h) of section 181 of such Code, as redesignated and amended by section 70434 of Public Law 119–21, is amended by striking December 31, 2025 and inserting December 31, 2030.

The amendments made by this section shall apply to productions commencing in taxable years ending after December 31, 2025.