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Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)
3/16/2021 • Senate
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 Senate • 3/16/2021
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Related Federal Spending
Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
Cosponsors (1)
Bill Journey
Originated in the Senate
Introduced
March 16, 2021
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law