A bipartisan group of senators and representatives unveiled a bill on Thursday that would create a 20%-30% federal tax incentive for film and television production, stacking on top of existing state credits and instantly making states like California, Georgia and New York among the world's most generous film locations.

Supporters are preparing an all-out push to pass the legislation by the end of the year, aiming to capitalize on momentum before Congress potentially changes hands next term.

"Windows of opportunity to pass legislation open and close very quickly," Rep. Linda Sanchez, D-Calif., said at a press conference on Thursday. "You have to really strike while the iron is hot."

The House is out of session and will not return until after the November election. Lawmakers expect, however, that the lame-duck session will include a significant tax bill, into which the film incentive could be incorporated.

"It is the goal and it is realistic," Rep. Nathaniel Moran, R-Texas, said in an interview. "When the right opportunity strikes, you've gotta jump at the opportunity. The stars have aligned where we have bicameral, bipartisan support, and we have a president who is very supportive of this."

As proposed, the incentive would cover a wide range of productions, including animation and reality shows. It would also cover salaries for actors and other above-the-line talent. A separate visual effects and postproduction credit would apply to projects filmed abroad but completed domestically.

The bill has yet to receive a cost estimate from congressional scorekeepers. Moran acknowledged that the legislation remains a work in progress.

"There is a long way to go," he said. "One of the things that's important is to get a score on the bill, to look for pay-fors that might offset any cost associated with the bill … Whether or not it changes a little bit or a lot will be determined by the feedback we get."

The proposal contains targeted sweeteners for two constituencies. Productions filming in rural "opportunity zones" would receive a 5% bonus — a provision benefiting districts like Moran's. A separate 5% bonus would apply to filming in federal disaster zones, a category Los Angeles County qualifies for through January 2030 due to last year's fires.

"It was important for me to have that in there," Rep. Laura Friedman, D-Calif., said. "Film is very unique in terms of its ability to stand up a lot of jobs quickly."

As written, the credit would stack on top of state-based incentives with no reduction in qualified spend due to state credits. That stacking would push total subsidies into the 50% range in several states.

"The state tax incentives are separate and apart from the tax incentives here," Moran said. "We see this as an additional incentive for the companies to benefit from to stay here."

Sen. Adam Schiff, a Democratic sponsor of the bill, said he wants it done this year rather than letting momentum flag into 2025.

"The iron is very hot right now," Schiff said. "We're all very focused on this, the president is focused on this. I wouldn't want to see that bleed into next year."

Friedman offered a more cautious assessment of the timeline.

"There's a lot that has to happen for that to be a reality," she said.

The bill's fate now hinges on the lame-duck tax package: if congressional negotiators make room for it before the session ends, the American production landscape could shift dramatically within months.