Bill116th CongressFiled Jul 30, 2020Taxation
H.R. 7886
HITS Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Jul 30, 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 happenedJul 30, 2020
Referred to the Subcommittee on Select Revenue Measures.
Who’s behind it
Rep. Sánchez, Linda T. [D-CA-38](D-CA)Sponsor
40 cosponsors23 D17 R
40cosponsors1committees4actions1related bills3subjects
- Introduced in HouseJul 30, 2020
- Jul 30, 2020Committee
Referred to the Subcommittee on Select Revenue Measures.
Tax Subcommittee - Jul 30, 2020IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jul 30, 2020IntroReferralIntro-H
Introduced in House
- Jul 30, 2020IntroReferral1000
Introduced in House