Tenney introduces SCREEN Act to revitalize America’s movie theaters
Press Release, Congresswoman Claudia Tenney
WASHINGTON, DC — Congresswoman Claudia Tenney (NY-24) alongside Representatives Mike Carey (OH-15) and David Kustoff (TN-08) today introduced the Supporting Cinema Renewal, Enhancement, and Enriching Neighborhoods (SCREEN) Act, legislation to encourage private investment in movie theaters and help revitalize the Main Streets and commercial districts they support.
The SCREEN Act would establish a 30% federal tax credit for qualified movie theater revitalization projects. Eligible improvements include new seating, projection and sound systems, HVAC upgrades, and accessibility improvements.
The credit would apply to traditional theaters that have been in operation for at least five years, with a lifetime per theater cap of $250,000 for theaters with three screens or fewer, $375,000 for theaters with four to nine screens, and $500,000 for theaters with ten or more screens. The credit would be available for qualifying investments made through December 31, 2030.
“Strong Main Streets depend on strong local businesses, and movie theaters help bring people into our downtowns where they support restaurants, shops, and other small businesses,” said Congresswoman Tenney. “As theaters work to modernize and compete, they deserve the opportunity to invest in their future. The SCREEN Act encourages private investment, strengthens local economies, creates jobs, and helps preserve these important community gathering places for future generations.”
This legislation is supported by Cinema United, Marquee Cinemas, Saunders Theatre Properties, and Malco Theatres:
“This timely and important legislation will spur re-investment in one of America’s great Main Street enterprises – the local cinema. Jobs will be created, including local contractors and vendors that do the work, surrounding businesses in the community will benefit, and the result will be a better experience for fans that love seeing their favorite movie on the big screen. We applaud the sponsors of this bill. Because of their leadership, towns of all sizes, in all 50 states, will see a tangible and positive cultural and economic impact in their local communities.” – Michael O’Leary, President and CEO, Cinema United
