SENATE 1625118th CongressRead twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1680-1681)

HITS Act

Last Action: 5/16/2023

Actions

2023-05-16Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1680-1681)
2023-05-16Introduced in Senate

CRS Summary

As of 2023-05-16 (00)

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.

Cosponsors (3)

Marsha Blackburn (R-TN)
Catherine Cortez Masto (D-NV)
Laphonza Butler (D-CA)

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