H.R. 10582 — Motion Picture, Television, and Entertainment Revitalization Act

This section establishes a new American film and television production tax credit equal to the applicable percentage (20 percent, increased by up to 10 percentage points) multiplied by qualified compensation paid for the production. The credit applies to feature films, television pilots, and seasons with total costs exceeding $1 million where at least 75 percent of principal photography days occur in the United States, excluding adult content, news, sports, talk shows, social media productions, and advertising. It increases the percentage by 5 points for productions with at least 30 percent of days in rural qualified opportunity zones or federally declared disaster areas and by 5 points for independent producers.