12 2 STA T .3876PUBLIC LA W 11 0– 3 4 3 —O CT. 3 , 2008 (b)DISCLO S UREUP O NR E Q UES T O FI NFOR MA TION RELATIN G TO T ERRORIST A CTI V ITIES .—Par a g ra ph ( 7 ) ofsecti o n6103 (i)isa m en d ed b y stri k ing s u bparagraph ( E ). (c) EFFECTIVE DATE.—The amendments made by this section sha l l apply to disclosures after the date of the enactment of this Act. TI T LEV—AD DITI ON AL TA XR ELIE F AND OT H ER TAX P ROVI S IONS S ubti t le A— G e n e ra lPr ov i s ions SEC.501 . $8, 500 IN C OM E THR ESHO LDU SEDTOC A LCULATE RE F UND - A B LE P ORTION OF CHILD TA X CREDIT. (a) IN G ENERAL.— S ection 24 (d) is amended by adding at the end the follo w ing new paragraph
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‘(4) SPECIAL RULE FOR 20 0 8 .— N otwithstanding paragraph (3) , in the case of any ta x able year beginning in 200 8 , the dollar amount in effect for such taxable year under paragraph (1)( B )(i) shall be $ 8, 5 00. ’ ’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to taxable years beginning after December 31, 2007. SEC. 50 2 . PRO V ISIONS RELATED TO FILM AND TELEVISION PRODUC- TIONS. (a) E X TENSION OF EXPENSING RULES FOR Q UALIFIE DF ILM AND TELEVISION PRODUCTIONS.—Section 181(f) (relating to termination) is amended by striking ‘‘December 31, 2008’’ and inserting ‘‘December 31, 200 9 ’’. (b) M ODIFICATION OF L IMITATION ON EXPENSING.—Subpara - graph (A) of section 181(a)(2) is amended to read as follows: ‘‘(A) IN GENERAL.—Paragraph (1) shall not apply to so much of the aggregate cost of any q ualified film or tele v ision production as exceeds $15,000,000.’’. (c) MODIFICATIONS TO DEDUCTION FOR DOMESTIC ACTIVITIES.— (1) DETERMINATION OF W– 2 WAGES.—Paragraph (2) of sec- tion 199(b) 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 sec- tion 199(c) 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 avail- ability of the deduction under this section.’’. (3) PARTNERS H IPS.—Subparagraph (A) of section 199(d)(1) 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 26USC 2 4note. 26USC6 103 note. 26 USC 6103.
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