Senate Bill 752
117th Congress(2021-2022)
HITS Act
Introduced
Introduced in Senate on Mar 16, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
752
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
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.
March 16, 2021
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03/16/2021
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572)
03/16/2021
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:47:42 PM