Latest Action
Referred to the House Committee on Ways and Means.
2/28/2023 • 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 • 2/28/2023
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Topics & Subjects
Policy Area: Taxation
Congressional Votes (0)
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Related Federal Spending
Sponsor & Cosponsors (34)
Party Breakdown
30
Democrats
4
Republicans
0
Independents
Sponsor
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Cosponsors (33)
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Bill Journey
Originated in the House
Introduced
February 28, 2023
Referred to the House Committee on Ways and Means.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Introduced in House2/28/2023