3.0.0 7886 2023-01-11T13:45:46Z 2023-01-11T13:45:46Z House HR 2020-07-30 116 [Congressional Record Volume 166, Number 135 (Thursday, July 30, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. SANCHEZ:H.R. 7886.Congress has the power to enact this legislation pursuantto the following:Article I, Section 7[Page H4190]]]> hswm00 Ways and Means Committee House Standing hswm05 Tax Subcommittee Referred to 2020-07-30T14:34:12Z Referred to 2020-07-30T13:02:10Z HITS Act 116 4955 S 2020-12-03 Read twice and referred to the Committee on Finance. Identical bill CRS 2020-07-30 hswm05 Tax Subcommittee 1 House committee actions Referred to the Subcommittee on Select Revenue Measures. Committee 2020-07-30 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2020-07-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-07-30 Introduced in House IntroReferral 1000 9 Library of Congress S001156 Rep. Sánchez, Linda T. [D-CA-38] Linda Sánchez D CA T. 38 N E000298 Rep. Estes, Ron [R-KS-4] Ron Estes R KS 4 2020-07-30 True S001150 Rep. Schiff, Adam B. [D-CA-28] ADAM SCHIFF D CA B. 28 2020-08-14 False F000466 Rep. Fitzpatrick, Brian K. [R-PA-1] Brian Fitzpatrick R PA K. 1 2020-08-14 False H001065 Rep. Holding, George [R-NC-2] George Holding R NC 2 2020-08-14 False J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2020-08-14 False M001157 Rep. McCaul, Michael T. [R-TX-10] Michael McCaul R TX T. 10 2020-08-14 False N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2020-08-14 False R000591 Rep. Roby, Martha [R-AL-2] Martha Roby R AL 2 2020-08-14 False S000344 Rep. Sherman, Brad [D-CA-30] BRAD SHERMAN D CA 30 2020-08-14 False C001080 Rep. Chu, Judy [D-CA-27] Judy Chu D CA 27 2020-09-04 False K000386 Rep. Katko, John [R-NY-24] John Katko R NY 24 2020-09-04 False B001274 Rep. Brooks, Mo [R-AL-5] Mo Brooks R AL 5 2020-09-04 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2020-09-04 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2020-09-04 False L000582 Rep. Lieu, Ted [D-CA-33] Ted Lieu D CA 33 2020-09-04 False C000754 Rep. Cooper, Jim [D-TN-5] JAMES COOPER D TN H. 5 2020-09-11 False C001067 Rep. Clarke, Yvette D. [D-NY-9] Yvette Clarke D NY D. 9 2020-09-11 False T000468 Rep. Titus, Dina [D-NV-1] Dina Titus D NV 1 2020-09-11 False H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2020-09-11 False R000616 Rep. Rouda, Harley [D-CA-48] Harley Rouda D CA 48 2020-09-11 False C001055 Rep. Case, Ed [D-HI-1] Ed Case D HI 1 2020-09-11 False G000590 Rep. Green, Mark E. [R-TN-7] Mark Green R TN E. 7 2020-09-11 False E000296 Rep. Evans, Dwight [D-PA-3] Dwight Evans D PA 3 2020-09-11 False L000589 Rep. Lesko, Debbie [R-AZ-8] Debbie Lesko R AZ 8 2020-09-11 False A000375 Rep. Arrington, Jodey C. [R-TX-19] Jodey Arrington R TX C. 19 2020-09-11 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2020-09-11 False B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2020-09-30 False C001103 Rep. Carter, Earl L. "Buddy" [R-GA-1] Earl Carter R GA L. "Buddy" 1 2020-09-30 False C001097 Rep. Cárdenas, Tony [D-CA-29] Tony Cárdenas D CA 29 2020-09-30 False D000617 Rep. DelBene, Suzan K. [D-WA-1] Suzan DelBene D WA K. 1 2020-10-09 False L000585 Rep. LaHood, Darin [R-IL-18] Darin LaHood R IL 18 2020-10-09 False R000486 Rep. Roybal-Allard, Lucille [D-CA-40] LUCILLE ROYBAL-ALLARD D CA 40 2020-10-09 False P000613 Rep. Panetta, Jimmy [D-CA-20] Jimmy Panetta D CA 20 2020-11-02 False N000002 Rep. Nadler, Jerrold [D-NY-10] JERROLD NADLER D NY 10 2020-11-02 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2020-11-02 False G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2020-11-05 False F000461 Rep. Flores, Bill [R-TX-17] Bill Flores R TX 17 2020-12-02 False B001302 Rep. Biggs, Andy [R-AZ-5] Andy Biggs R AZ 5 2020-12-02 False M001202 Rep. Murphy, Stephanie N. [D-FL-7] Stephanie Murphy D FL N. 7 2020-12-16 False H001073 Rep. Hurd, Will [R-TX-23] Will Hurd R TX 23 2020-12-16 False Taxation Business expenses Income tax deductions Music Taxation 00 2020-07-30 Introduced in House 2020-11-05T20:15:04Z 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.

]]> HITS Act Display Title HITS Act Short Title(s) as Introduced HITS Act Introduced in House IH Short Title(s) as Introduced Help Independent Tracks Succeed Act Introduced in House IH Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide for an election to expense certain qualified sound recording costs otherwise chargeable to capital account. Introduced in House IH Introduced in House 2020-07-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr7886ih/xml/BILLS-116hr7886ih.xml 2020-07-30 Referred to the Subcommittee on Select Revenue Measures. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.