3.0.0 1945 2023-01-11T13:48:13Z 2023-01-11T13:48:13Z House HR 2021-03-16 117 [Congressional Record Volume 167, Number 49 (Tuesday, March 16, 2021)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. SANCHEZ:H.R. 1945.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H1414]]]> hswm00 Ways and Means Committee House Standing Referred to 2021-03-16T16:06:35Z HITS Act 117 752 S 2021-03-16 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S1571-1572) Identical bill CRS Inflation Reduction Act of 2022 117 5376 HR 2022-08-16 Became Public Law No: 117-169. Related bill CRS 2021-03-16 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2021-03-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2021-03-16 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 2021-03-16 True C001080 Rep. Chu, Judy [D-CA-27] Judy Chu D CA 27 2021-03-16 True M001157 Rep. McCaul, Michael T. [R-TX-10] Michael McCaul R TX T. 10 2021-03-16 True D000617 Rep. DelBene, Suzan K. [D-WA-1] Suzan DelBene D WA K. 1 2021-03-16 True N000179 Rep. Napolitano, Grace F. [D-CA-32] GRACE NAPOLITANO D CA F. 32 2021-03-16 True B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2021-03-23 False P000613 Rep. Panetta, Jimmy [D-CA-20] Jimmy Panetta D CA 20 2021-03-23 False S001200 Rep. Soto, Darren [D-FL-9] Darren Soto D FL 9 2021-05-04 False C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2021-05-04 False N000002 Rep. Nadler, Jerrold [D-NY-10] JERROLD NADLER D NY 10 2021-05-04 False N000147 Del. Norton, Eleanor Holmes [D-DC-At Large] ELEANOR NORTON D DC HOLMES 0 2021-05-04 False C000754 Rep. Cooper, Jim [D-TN-5] JAMES COOPER D TN H. 5 2021-05-04 False G000585 Rep. Gomez, Jimmy [D-CA-34] Jimmy Gomez D CA 34 2021-05-04 False S001201 Rep. Suozzi, Thomas R. [D-NY-3] Thomas Suozzi D NY R. 3 2021-05-17 False N000192 Rep. Newman, Marie [D-IL-3] Marie Newman D IL 3 2021-05-17 False F000466 Rep. Fitzpatrick, Brian K. [R-PA-1] Brian Fitzpatrick R PA K. 1 2021-05-17 False G000552 Rep. Gohmert, Louie [R-TX-1] Louie Gohmert R TX 1 2021-05-17 False G000590 Rep. Green, Mark E. [R-TN-7] Mark Green R TN E. 7 2021-05-17 False K000386 Rep. Katko, John [R-NY-24] John Katko R NY 24 2021-05-17 False S001150 Rep. Schiff, Adam B. [D-CA-28] ADAM SCHIFF D CA B. 28 2021-06-11 False A000375 Rep. Arrington, Jodey C. [R-TX-19] Jodey Arrington R TX C. 19 2021-06-11 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2021-06-11 False C001103 Rep. Carter, Earl L. "Buddy" [R-GA-1] Earl Carter R GA L. "Buddy" 1 2021-06-11 False R000486 Rep. Roybal-Allard, Lucille [D-CA-40] LUCILLE ROYBAL-ALLARD D CA 40 2021-06-25 False L000582 Rep. Lieu, Ted [D-CA-33] Ted Lieu D CA 33 2021-07-09 False L000585 Rep. LaHood, Darin [R-IL-18] Darin LaHood R IL 18 2021-07-29 False E000296 Rep. Evans, Dwight [D-PA-3] Dwight Evans D PA 3 2021-10-22 False G000583 Rep. Gottheimer, Josh [D-NJ-5] Josh Gottheimer D NJ 5 2021-10-22 False R000606 Rep. Raskin, Jamie [D-MD-8] Jamie Raskin D MD 8 2021-10-22 False C001097 Rep. Cárdenas, Tony [D-CA-29] Tony Cárdenas D CA 29 2021-10-22 False B001285 Rep. Brownley, Julia [D-CA-26] Julia Brownley D CA 26 2021-11-02 False E000297 Rep. Espaillat, Adriano [D-NY-13] Adriano Espaillat D NY 13 2021-11-02 False M001177 Rep. McClintock, Tom [R-CA-4] Tom McClintock R CA 4 2021-11-18 False S000250 Rep. Sessions, Pete [R-TX-17] PETE SESSIONS R TX 17 2021-11-18 False B001223 Rep. Bowman, Jamaal [D-NY-16] Jamaal Bowman D NY 16 2022-01-13 False Q000023 Rep. Quigley, Mike [D-IL-5] Mike Quigley D IL 5 2022-02-08 False B001251 Rep. Butterfield, G. K. [D-NC-1] G. K. Butterfield D NC 1 2022-05-03 False B001300 Rep. Barragan, Nanette Diaz [D-CA-44] Nanette Barragan D CA Diaz 44 2022-10-07 False J000032 Rep. Jackson Lee, Sheila [D-TX-18] SHEILA JACKSON LEE D TX 18 2022-10-07 False W000788 Rep. Williams, Nikema [D-GA-5] Nikema Williams D GA 5 2022-10-07 False K000392 Rep. Kustoff, David [R-TN-8] David Kustoff R TN 8 2022-10-14 False D000399 Rep. Doggett, Lloyd [D-TX-35] LLOYD DOGGETT D TX 35 2022-10-14 False K000381 Rep. Kilmer, Derek [D-WA-6] Derek Kilmer D WA 6 2022-11-10 False B000740 Rep. Bice, Stephanie I. [R-OK-5] Stephanie Bice R OK I. 5 2022-11-10 False R000579 Rep. Ryan, Patrick [D-NY-19] Patrick Ryan D NY 19 2022-11-29 False J000288 Rep. Johnson, Henry C. "Hank," Jr. [D-GA-4] Henry Johnson D GA C. "Hank" 4 2022-11-29 False C001119 Rep. Craig, Angie [D-MN-2] Angie Craig D MN 2 2022-12-02 False Taxation Business expenses Income tax deductions Music Taxation 00 2021-03-16 Introduced in House 2021-06-03T13:31:18Z 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 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 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 Introduced in House 2021-03-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117hr1945ih/xml/BILLS-117hr1945ih.xml 2021-03-16 Referred to the House Committee on Ways and Means. 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.