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United States · Bill · S

S. 4955 (116th)

HITS Act

referredUnited States· United States Congress· EN

Introduced

3 December 2020

Last action

3 December 2020 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Feinstein, Dianne [D-CA], Sen. Blackburn, Marsha [R-TN]

Subjects

Taxation

Source updated

5 December 2025

Taxation

Official sourceDownload fileView documentsShare

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.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 3 December 2020

    Introduced

    Introduced in Senate

    Source: IntroReferral

  2. 3 December 2020

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 3 December 2020

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 3 December 2020

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 3 December 2020

    Open at official source

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Sponsors

Related records

Sources

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