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 |