S. 2530

CREATE Act

Shown here: Introduced in Senate (2025-07-30)

To amend the Internal Revenue Code of 1986 to expand the ability to expense certain qualified productions.

1. Short title

This Act may be cited as the “Creative Relief and Expensing for Audio and Television Enterprises Act” or the “CREATE Act”.

2. Adjustment of provisions applicable to qualified productions

(a) Dollar limitations

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:

(D) Inflation adjustment
(i) In general
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.
(ii) Rounding
Any increase determined under clause (i) shall be rounded to the nearest multiple of $1,000.

(b) Extension of termination

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”.

(c) Effective date

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

2. Adjustment of provisions applicable to qualified productions

(a) Dollar limitations

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:

(D) Inflation adjustment

(i) In general

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.

(ii) Rounding

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

(b) Extension of termination

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.