SCREEN Act

The SCREEN Act creates a new tax credit to help owners of movie theaters in the United States pay for renovations and upgrades to their facilities. This credit covers 30% of the costs spent on eligible equipment and property used to show films, provided the theater has been in operation for at least five years. The amount of the credit is limited based on the number of screens a theater has, ranging from $250,000 for small theaters with fewer than four screens up to $500,000 for larger venues with ten or more screens. Businesses can use this credit to lower their overall tax bill, and the provision is available for expenses incurred after the law is passed until the end of 2030.