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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Title(s) as Introduced

Help Independent Tracks Succeed Act

Official Titles

Official Titles - House of Representatives

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.

Actions Overview (1)

Date Actions Overview
03/16/2021Introduced in House

All Actions (2)

Date All Actions
03/16/2021Referred to the House Committee on Ways and Means.
Action By: House of Representatives
03/16/2021Introduced in House
Action By: House of Representatives

Cosponsors (23)

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Ways and Means03/16/2021 Referred to

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Subjects (4)

Latest Summary (1)

There is one summary for H.R.1945. View summaries

Shown Here:
Introduced in House (03/16/2021)

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.