Ask AI
Bill116th CongressFiled Dec 3, 2020Taxation
S. 4955

HITS Act

Bill journey · stage 2 of 5

Under committee review

Filed
Comm.
Floor
Both
Law

What it doesSummary introduced in senate (Dec 3, 2020)

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.

What just happenedDec 3, 2020

Read twice and referred to the Committee on Finance.

Who’s behind it

Sen. Feinstein, Dianne [D-CA](D-CA)Sponsor
1 cosponsor1 R
Read on Congress.gov
1cosponsors1committees2actions1related bills3subjects
  1. Dec 3, 2020IntroReferral

    Read twice and referred to the Committee on Finance.

    Finance Committee
  2. Dec 3, 2020IntroReferral10000

    Introduced in Senate

HITS Act — Informed