HITS Act
Summary
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.
Bill status
in committee
1 of 4 stages cleared
Introduction
Mar 2021
Committee Review
Floor Vote
President
Introduced Mar 16, 2021
Last action Mar 16, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Mar 16, 2021
Committee
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)
upper
Mar 16, 2021
Introduced
Introduced in Senate
upper
1 primary · 1 co-sponsor
Sponsors
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