US HB7886 | 2019-2020 | 116th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on July 30 2020 - 25% progression, died in committee
Action: 2020-07-30 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 30 2020 - 25% progression, died in committee
Action: 2020-07-30 - Referred to the Subcommittee on Select Revenue Measures.
Pending: House Subcommittee on Select Revenue Measures Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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.
Title
HITS Act Help Independent Tracks Succeed Act
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2020-07-30 | House | Referred to the Subcommittee on Select Revenue Measures. |
| 2020-07-30 | House | Referred to the House Committee on Ways and Means. |
| 2020-07-30 | House | Introduced in House |
Same As/Similar To
SB4955 (Same As) 2020-12-03 - Read twice and referred to the Committee on Finance.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/7886/all-info |
| Text | https://www.congress.gov/116/bills/hr7886/BILLS-116hr7886ih.pdf |
