Summary: H.R.7886 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.7886. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/30/2020)

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.