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Referred to the Subcommittee on Select Revenue Measures.
7/30/2020 • House
Summary
Help Independent Tracks Succeed Act or the HITS Act
This bill permits taxpayers to treat as currently deductible expenses the cost of qualified sound recording productions not exceeding $150,000 in a taxable year. The bill defines qualified sound recording production as certain sound recordings produced and recorded in the United States.
Introduced in House • 7/30/2020
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Sponsor & Cosponsors (41)
Party Breakdown
24
Democrats
17
Republicans
0
Independents
Sponsor
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Cosponsors (40)
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Bill Journey
Originated in the House
Introduced
July 30, 2020
Referred to the Subcommittee on Select Revenue Measures.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Introduced in House7/30/2020