H.R. 1259House118th Congress (2023-2025)In Committee

HITS Act

AI-Generated Summary

Updated January 20, 2026 at 4:07 AM UTC

The HITS Act amends the Internal Revenue Code to let taxpayers treat costs of qualified sound recording productions as ordinary expenses instead of capitalizing them. It creates an election to expense these costs up to a $150,000 limit per year and defines a qualified sound recording as one made in the United States. The changes also allow such productions to qualify for bonus depreciation. The law applies to eligible producers of U.S. sound recordings starting with tax years after the act’s enactment.

Key Provisions

Adds sound recording productions to the list of qualified productions that can be expensed under Section 181
Sets an annual $150,000 cap on the amount of sound recording production costs that can be expensed
Defines “qualified sound recording production” as a recording made and recorded in the United States
Allows qualified sound recording productions to be treated as qualified property for bonus depreciation under Section 168(k)
Specifies that the production is considered placed in service at its initial release or broadcast
Applies the amendments to productions beginning in taxable years ending after the act’s enactment

Legislative Activity

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1 earlier action

HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

February 28, 2023

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HouseIntro Referral

Introduced in House

February 28, 2023

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

February 28, 2023

Floor Debate

1 member

What members said about H.R. 1259 on the floor

1 Republican

Rep. Monica De La CruzR-TX-15 · Sep 12, 2023

Under clause 7 of rule XII, sponsors were added to public bills and resolutions, as follows: H.R. 16: Ms. Tokuda, Mr. Magaziner, Mr. Casten, Mr. Casar, Mr. Sherman, Ms. Caraveo, and Mr. Sablan. H.R.…

Under clause 7 of rule XII, sponsors were added to public bills and resolutions, as follows:

H.R. 16: Ms. Tokuda, Mr. Magaziner, Mr. Casten, Mr. Casar,

Mr. Sherman, Ms. Caraveo, and Mr. Sablan.

H.R. 33: Ms. Ross and Ms. Bonamici.

H.R. 34: Ms. Escobar, Mr. Tonko, and Mr. Nadler.

H.R. 56: Ms. Crockett.

H.R. 231: Mr. Cline.

H.R. 253: Ms. McCollum, Mr. Jackson of Illinois, and Mr.

Cleaver.

H.R. 303: Mr. Kilmer.

H.R. 459: Ms. Castor of Florida.

H.R. 549: Mr. Gallego, Mr. Cartwright, Mr. Mrvan, Ms.

Escobar, Ms. Titus, Mr. Evans, Ms. Stansbury, Mr. Espaillat,

Mrs. Lesko, Mr. Joyce of Ohio, Ms. Adams, Ms. Balint, Mr.

Owens, and Mrs. Sykes.

H.R. 620: Mrs. Peltola.

H.R. 666: Mr. Bowman.

H.R. 679: Mr. Lawler.

H.R. 681: Ms. Wild, Mr. Swalwell, Ms. Kamlager-Dove, Ms.

Balint, Ms.Crockett, and Mrs. Cherfilus-McCormick.

H.R. 700: Mr. Krishnamoorthi, Mr. Latta, Mr. Kelly of

Mississippi, Mr. Kim of New Jersey, Mrs. Chavez-DeRemer, Mr.

Harder of California, and Mrs. Steel.

H.R. 722: Mr. Barr.

H.R. 770: Ms. Kuster.

H.R. 795: Mr. Crow.

H.R. 807: Mr. Miller of Ohio, Mr. Fitzgerald, Mr. Bucshon,

and Mr. Soto.

H.R. 809: Mr. Posey and Mr. Huizenga.

H.R. 866: Mr. Vasquez.

H.R. 873: Mr. Nehls.

H.R. 906: Mr. Steube and Ms. Caraveo.

H.R. 972: Ms. Kelly of Illinois.

H.R. 1073: Mr. Lawler.

H.R. 1088: Mr. Neguse.

H.R. 1118: Ms. Balint.

H.R. 1138: Mr. Lawler.

H.R. 1139: Mr. Newhouse, Mr. DesJarlais, and Ms. Craig.

H.R. 1150: Ms. Jayapal and Mr. Moylan.

H.R. 1191: Mr. Swalwell, Mr. Thompson of California, Mr.

Jackson of Illinois, and Ms. Crockett.

H.R. 1200: Ms. Van Duyne and Mr. McCormick.

H.R. 1235: Mr. Sherman.

H.R. 1250: Mr. Costa.

H.R. 1259: Mr. Lieu.

H.R. 1277: Mr. Krishnamoorthi, Mr. Green of Texas, Ms.

Porter, Ms. Leger Fernandez, Mr. Schiff, Mr. Casten, Mrs.

Cherfilus-McCormick, Ms. Eshoo, Mr. DesJarlais, Ms. Norton,

Mr. Grijalva, Ms. Craig, Mr. Castro of Texas, Mrs. Dingell,

Mr. Morelle, Ms. Lee of California, Ms. Wasserman Schultz,

Mr. Espaillat, Ms. Barragan, and Mr. Huffman.

H.R. 1278: Mr. Moulton.

H.R. 1290: Mr. Feenstra.

H.R. 1295: Mr. Schiff.

H.R. 1318: Ms. Titus and Ms. Craig.

H.R. 1385: Ms. Pingree and Mr. LaHood.

H.R. 1432: Mr. Davis of Illinois.

H.R. 1437: Mr. Sessions.

H.R. 1447: Ms. Budzinski.

H.R. 1483: Mr. Raskin.

H.R. 1488: Mr. Tonko and Mr. Horsford.

H.R. 1503: Mr. Tonko.

H.R. 1517: Ms. Kuster.

H.R. 1535: Mr. Davis of North Carolina and Mr. Ciscomani.

H.R. 1555: Mr. Cardenas.

H.R. 1572: Mr. Jackson of Illinois, Mr. Cuellar, Mr. Harder

of California, Mr. Raskin, Mrs. Gonzalez-Colon, Mr. Posey,

and Mr. Owens.

H.R. 1614: Mr. Costa.

H.R. 1623: Mr. Feenstra.

H.R. 1637: Mr. Ciscomani, Mrs. Kiggans of Virginia, and Mr.

Ryan.

H.R. 1638: Mr. Bacon.

H.R. 1643: Mr. Gomez.

H.R. 1679: Mr. Lawler.

H.R. 1721: Ms. Crockett and Ms. Kuster.

H.R. 1728: Ms. Mace.

H.R. 1740: Mr. Allred.

H.R. 1758: Mr. Donalds.

H.R. 1763: Mr. Harder of California and Mr. Moskowitz.

H.R. 1770: Mrs. Kiggans of Virginia.

H.R. 1777: Mr. Tony Gonzales of Texas, Mr. Grothman, Mr.

Fleischmann, Mr. Sherman, and Mr. Ciscomani.

H.R. 1788: Mr. Phillips, Ms. Scholten, Ms. Spanberger, Ms.

McCollum, and Mr. Beyer.

H.R. 1831: Mr. Burgess and Mr. Grijalva.

H.R. 1841: Mr. Rouzer.

H.R. 1842: Mr. Gallego.

H.R. 2365: Mr. Levin, Mr. Balderson, Ms. Caraveo, Ms.

Salinas, Mr. Larsen of Washington, Mr. Magaziner, Mr. Trone,

Mr. Cleaver, Ms. Brownley, Ms. Leger Fernandez, and Mr.

Veasey.

H.R. 2367: Ms. Lee of Nevada, Mr. Joyce of Pennsylvania,

Mr. Guest, Mr. Pappas, and Mrs. Houchin.

H.R. 2370: Ms. Caraveo.

H.R. 2389: Mr. Moulton, Mr. Trone, Ms. Sherrill, Mr.

Horsford, Ms. Ross, Mrs. McBath, Mr. Mrvan, Ms. McCollum, and

Mr. Vicente Gonzalez of Texas.

H.R. 2406: Mr. Barr, Mrs. Harshbarger, and Mrs. Lesko.

H.R. 2407: Mr. Burgess, Ms. Hoyle of Oregon, Mr. Mooney,

Mrs. Fletcher, Mr. Morelle, Mr. Nickel, and Mr. Castro of

Texas.

H.R. 2410: Mr. Nickel.

H.R. 2412: Mr. Harder of California, Mr. Landsman, and Mr.

Cleaver.

H.R. 2431: Mrs. Chavez-DeRemer and Ms. Lee of Nevada.

H.R. 2510: Mr. Harder of California and Ms. Salinas.

H.R. 2550: Ms. Leger Fernandez.

H.R. 2583: Mr. Doggett, Mr. Pocan, Mr. Quigley, Ms. Sewell,

and Ms. Pingree.

H.R. 2630: Ms. Malliotakis, Mr. Steube, Mr. Fitzpatrick,

and Mr. Austin Scott of Georgia.

H.R. 2667: Mrs. Miller of West Virginia and Mr. Aderholt.

H.R. 2697: Mr. Vargas and Ms. Tlaib.

H.R. 2700: Mr. McCormick.

H.R. 2718: Ms. Blunt Rochester.

H.R. 2720: Mr. Carbajal, Ms. Kuster, Mr. Blumenauer, and

Mr. Lawler.

H.R. 2723: Mr. Moulton and Mr. Ryan.

H.R. 2736: Ms. Caraveo.

H.R. 2739: Mrs. Kim of California.

H.R. 2743: Mrs. Miller of West Virginia, Mr. C. Scott

Franklin of Florida, Mr. Simpson, and Mr. Newhouse.

H.R. 2814: Mr. Moore of Utah.

H.R. 2855: Mr. Harder of California.

H.R. 2869: Mr. Mfume.

H.R. 2871: Ms. Jayapal.

H.R. 2891: Mr. Tonko.

H.R. 2929: Mr. Pappas.

H.R. 2955: Mr. Burgess, Mr. Cleaver, Mr. Raskin, and Mr.

Goldman of New York.

H.R. 2957: Mr. Morelle and Mr. Allred.

H.R. 2987: Ms. Bush.

H.R. 3007: Mr. McGarvey.

H.R. 3029: Mr. Kelly of Pennsylvania and Mrs. Miller of

West Virginia.

H.R. 3074: Mr. Carter of Louisiana and Ms. Scanlon.

H.R. 3108: Mr. Fitzpatrick.

H.R. 3137: Mr. Newhouse.

H.R. 3139: Mr. Ryan and Ms. Foxx.

H.R. 3145: Ms. Omar.

H.R. 3152: Mr. Simpson, Mr. Tony Gonzales of Texas, Mr. C.

Scott Franklin of Florida, Mr. Cline, Mr. Santos, Mr. Golden

of Maine, Mrs. Foushee, and Mr. Rouzer.

H.R. 3170: Mr. Pallone and Ms. Dean of Pennsylvania.

H.R. 3184: Mr. Norcross.

H.R. 3192: Ms. Slotkin.

H.R. 3206: Mr. Gooden of Texas.

H.R. 3235: Mr. Huffman.

H.R. 3251: Mr. McGovern.

H.R. 3272: Mr. Lawler.

H.R. 3378: Mr. Bacon.

H.R. 3380: Ms. Kuster and Mr. Landsman.

H.R. 3381: Mr. Gottheimer, Mr. Norman, Mr. Babin, Ms.

Malliotakis, Mr. Soto, Mr. Ryan, Mr. Crenshaw, Mr. Trone, Ms.

Manning, Mr. Ciscomani, Ms. Caraveo, Mr. Carey, and Ms.

Salazar.

H.R. 3394: Mr. Pallone, Mr. Cohen, Ms. Scanlon, Ms.

Brownley, Ms. Ross, Mr. Carbajal, Mr. Deluzio, Ms. Tlaib, and

Mr. Trone.

H.R. 3410: Mr. Lawler.

H.R. 3413: Ms. Chu, Ms. Greene of Georgia, and Ms. Ross.

H.R. 3424: Mr. Tonko and Mr. Harder of California.

H.R. 3425: Mr. Tiffany and Ms. Manning.

H.R. 3448: Ms. Spanberger.

H.R. 3464: Mrs. Houchin.

H.R. 3468: Mr. Schiff, Mr. Vargas, Ms. Salinas, and Mr.

Goldman of New York.

H.R. 3473: Ms. Ocasio-Cortez.

H.R. 3488: Mr. Grijalva and Ms. Velazquez.

H.R. 3492: Mr. C. Scott Franklin of Florida.

H.R. 3503: Mr. Lieu and Mr. Pocan.

H.R. 3518: Ms. Norton.

H.R. 3519: Mr. Gomez.

H.R. 3530: Mr. Krishnamoorthi, Ms. DelBene, Mr. Swalwell,

Mr. Lieu, Ms. Ross, Mr. Neguse, and Mr. Schneider.

H.R. 3539: Mr. Crow and Mr. Molinaro.

H.R. 3549: Mrs. Miller-Meeks.

H.R. 3576: Mr. Smith of Washington and Mr. Vargas.

H.R. 3585: Ms. Mace.

H.R. 3589: Ms. Tokuda.

H.R. 3600: Mr. Larsen of Washington and Mr. Harder of

California.

H.R. 3601: Mr. Vargas, Mr. Moulton, and Ms. Sherrill.

H.R. 3608: Mr. Ruiz.

H.R. 3618: Mr. Fitzpatrick and Ms. Wilson of Florida.

H.R. 3662: Ms. Pingree.

H.R. 3679: Mr. Lawler.

H.R. 3681: Mr. Levin.

H.R. 3730: Mr. Ciscomani.

H.R. 3755: Mr. Smucker.

H.R. 3774: Mr. Fleischmann, Mr. McClintock, Mr. Soto, Mr.

Sherman, Ms.

Craig, and Mr. Bilirakis.

H.R. 3782: Mr. Fry and Mr. Phillips.

H.R. 3792: Mr. Lieu, Ms. Castor of Florida, Mr. Tony

Gonzales of Texas, Mr. Ryan, Mr. Grothman, Mr. Sherman, and

Mr. Robert Garcia of California.

H.R. 3838: Mr. Cohen.

H.R. 3843: Mr. Pocan and Ms. Tlaib.

H.R. 3851: Ms. Van Duyne and Ms. Sherrill.

H.R. 3859: Ms. Lofgren, Ms. McCollum, and Mr. Fitzpatrick.

H.R. 3867: Mr. LaLota.

H.R. 3875: Mr. Quigley and Mr. Mullin.

H.R. 3876: Mr. Crow.

H.R. 3879: Ms. Craig.

H.R. 3882: Mr. Deluzio and Mr. Joyce of Ohio.

H.R. 3916: Ms. Dean of Pennsylvania, Mrs. Bice, Ms.

McClellan, Mrs. Miller-Meeks, and Ms. Sherrill.

H.R. 3923: Mr. McGarvey.

H.R. 3949: Mr. Fry and Mr. Latta.

H.R. 3965: Mr. Robert Garcia of California.

H.R. 3988: Mr. Good of Virginia.

H.R. 3990: Mr. Lawler.

H.R. 4007: Mr. Lawler.

H.R. 4024: Ms. Matsui.

H.R. 4034: Ms. DelBene.

H.R. 4035: Mrs. Miller-Meeks.

H.R. 4040: Ms. DeGette.

H.R. 4059: Ms. Budzinski.

H.R. 4061: Mr. Kildee.

H.R. 4076: Mr. Peters.

H.R. 4118: Ms. Crockett, Ms. Norton, Mr. Carson, and Ms.

Jackson Lee.

H.R. 4144: Mr. Yakym.

H.R. 4149: Mr. Carson.

H.R. 4157: Mr. Moskowitz, Mr. Gottheimer, Mr. Flood, and

Ms. Wild.

H.R. 4170: Ms. Ross and Ms. Balint.

H.R. 4174: Ms. Budzinski.

H.R. 4175: Mr. Hill.

H.R. 4183: Ms. Castor of Florida.

H.R. 4198: Mr. Hill.

H.R. 4202: Mr. Gottheimer, Ms. Wilson of Florida, Ms.

Spanberger, Ms. Scanlon, Ms. Crockett, Mr. Torres of New

York, Mr. Swalwell, Ms. Lee of California, Mr. Trone, Mr.

Garcia of Illinois, and Mr. Lynch.

H.R. 4238: Mr. Timmons.

H.R. 4241: Ms. Davids of Kansas.

H.R. 4249: Ms. Craig.

H.R. 4259: Mrs. Houchin.

H.R. 4262: Ms. Mace.

H.R. 4273: Mr. Phillips.

H.R. 4274: Mr. McGovern.

H.R. 4295: Mr. Carter of Louisiana and Mr. Mullin.

H.R. 4314: Ms. DeGette.

H.R. 4328: Mrs. Kiggans of Virginia.

H.R. 4334: Mr. Bacon and Mr. Bergman.

H.R. 4384: Ms. Manning.

H.R. 4395: Mr. Baird.

H.R. 4432: Ms. Davids of Kansas.

H.R. 4438: Mr. Owens.

H.R. 4466: Mr. McGarvey and Ms. Wilson of Florida.

H.R. 4475: Mrs. Watson Coleman.

H.R. 4478: Mr. Mills.

H.R. 4514: Ms. Greene of Georgia.

H.R. 4534: Ms. Dean of Pennsylvania, Mr. Connolly, Ms.

Clarke of New York, and Ms. Wild.

H.R. 4561: Mr. McGovern and Ms. DeGette.

H.R. 4562: Mr. Moulton and Mr. Lawler.

H.R. 4563: Mr. McCormick.

H.R. 4566: Ms. Lofgren.

H.R. 4577: Ms. Sherrill and Mr. Guest.

H.R. 4581: Mr. Feenstra.

H.R. 4587: Ms. Salazar and Ms. Lee of Florida.

H.R. 4598: Mr. Lieu.

H.R. 4602: Ms. Kuster.

H.R. 4612: Mr. Duarte and Ms. Caraveo.

H.R. 4624: Mr. Carson, Ms. Eshoo, Mr. Grijalva, and Ms.

Jackson Lee.

H.R. 4663: Mrs. Lesko.

H.R. 4702: Mr. Lieu.

H.R. 4728: Ms. Schakowsky.

H.R. 4729: Ms. De La Cruz and Mr. Fry.

H.R. 4733: Mr. Neguse.

H.R. 4745: Mrs. Kim of California.

H.R. 4750: Ms. Jayapal.

H.R. 4758: Ms. Wexton, Mr. McCaul, Mr. Smucker, and Ms.

Barragan.

H.R. 4769: Ms. Scholten, Mr. Schiff, Mr. Garbarino, Mr.

Smith of New Jersey, Mr. Lawler, Mr. Goldman of New York, Mr.

LaLota, and Mr. Carter of Louisiana.

H.R. 4779: Mr. Doggett, Mr. Payne, and Mr. McGovern.

H.R. 4782: Mr. Blumenauer.

H.R. 4817: Mr. Robert Garcia of California.

H.R. 4844: Mr. Harder of California.

H.R. 4886: Mr. Kildee.

H.R. 4895: Mr. Connolly, Mr. Kildee, Ms. Escobar, Mr.

Larsen of Washington, and Ms. Porter.

H.R. 4904: Mrs. Miller-Meeks.

H.R. 4914: Ms. Barragan.

H.R. 4919: Ms. Schakowsky, Ms. Dean of Pennsylvania, and

Mr. Frost.

H.R. 4921: Mrs. Miller of Illinois.

H.R. 4965: Ms. Garcia of Texas, Mr. Norcross, Ms. Ocasio-

Cortez, and Ms. Lofgren.

H.R. 4970: Mrs. Chavez-DeRemer.

H.R. 5006: Ms. Stefanik.

H.R. 5008: Ms. Kamlager-Dove and Ms. Balint.

H.R. 5012: Ms. Clarke of New York, Ms. Williams of Georgia,

and Ms. Craig.

H.R. 5013: Mr. Fitzpatrick.

H.R. 5041: Mr. Ruiz.

H.R. 5094: Mr. Langworthy.

H.R. 5106: Mr. Womack.

H.R. 5107: Mr. Grothman.

H.R. 5110: Mrs. McClain, Ms. Foxx, Ms. Perez, Mr. Walberg,

Mrs. Houchin, Mrs. Wagner, Mr. Bost, Mr. Williams of New

York, Mr. DesJarlais, and Mr. LaHood.

H.R. 5113: Mr. Vasquez.

H.R. 5130: Mr. Graves of Missouri.

H.R. 5136: Ms. Caraveo.

H.R. 5145: Mr. Bowman.

H.R. 5159: Ms. Clarke of New York, Mr. LaHood, Mr.

Fitzpatrick, Mr. Bacon, Mr. Ferguson, Mr. Larson of

Connecticut, Mr. Comer, Mr. Graves of Louisiana, Mr. Boyle of

Pennsylvania, Mr. Gottheimer, and Mr. Phillips.

H.R. 5169: Mr. Ruppersberger, Mr. Bergman, Mr. Thompson of

California, and Mr. Ciscomani.

H.R. 5171: Mr. Swalwell.

H.R. 5175: Ms. Norton, Mr. Grijalva, Mr. Bilirakis, and Mr.

Moskowitz.

H.R. 5182: Mr. Fry and Mr. Owens.

H.R. 5184: Mr. Fallon, Mr. Crenshaw, and Mr. Meuser.

H.R. 5203: Mr. Mooney.

H.R. 5221: Ms. Eshoo.

H.R. 5233: Ms. Davids of Kansas.

H.R. 5239: Ms. Lee of Florida.

H.R. 5242: Ms. Bonamici and Mr. Fitzpatrick.

H.R. 5245: Mr. Issa and Ms. Stefanik.

H.R. 5247: Mr. Sablan.

H.R. 5249: Mr. Moulton, Mr. Fitzpatrick, Mr. Carson, Ms.

Tokuda, Mr. Davis of North Carolina, and Mr. Case.

H.R. 5250: Mr. Lawler.

H.R. 5252: Ms. Sherrill, Mr. Payne, and Mr. Blumenauer.

H.R. 5265: Mr. Stauber.

H.R. 5283: Mr. Smith of New Jersey.

H.R. 5290: Mr. Tonko and Ms. Bush.

H.R. 5291: Ms. Bush.

H.R. 5292: Mr. Tonko, Ms. Bush, Ms. Chu, and Ms. Jayapal.

H.R. 5293: Ms. Bush.

H.R. 5294: Ms. Bush and Ms. Jayapal.

H.R. 5295: Mr. Tonko and Ms. Bush.

H.R. 5302: Mr. Waltz.

H.R. 5308: Mr. Costa and Mr. Ryan.

H.R. 5318: Mr. Davis of North Carolina.

H.R. 5323: Mr. Sessions.

H.R. 5329: Mr. Takano.

H.R. 5342: Mr. Williams of Texas, Mr. Gooden of Texas, and

Ms. De La Cruz.

H.R. 5349: Mr. Owens.

H.R. 5351: Ms. Schakowsky, Mr. Cohen, and Mr. Veasey.

H.R. 5361: Mrs. Foushee.

H.R. 5368: Mr. Fry, Mrs. Harshbarger, Mr. Van Drew, Mr.

Johnson of Louisiana, Mr. Bost, and Mr. Mills.

H.R. 5369: Ms. Barragan.

H.R. 5377: Mr. Davis of North Carolina.

H.R. 5379: Mr. Norman.

H.J. Res. 88: Mr. Babin, Mr. Good of Virginia, Mrs. Miller-

Meeks, Mrs. Houchin, Mr. Yakym, and Ms. Hageman.

H. Con. Res. 31: Mr. Huffman.

H. Con. Res. 44: Mr. Casar.

H. Con. Res. 59: Ms. Sanchez.

H. Con. Res. 61: Ms. Waters, Mr. Moulton, Ms. DeGette, Mr.

Casten, Mr. Levin, Ms. Moore of Wisconsin, Ms. Clarke of New

York, Ms. McClellan, Mr. DeSaulnier, Mr. Casar, Ms. Balint,

Ms. Salinas, and Mr. Pocan.

H. Res. 50: Mr. Mooney, Mr. Sessions, Mr. Cloud, and Ms.

Van Duyne.

H. Res. 77: Mr. Lynch.

H. Res. 100: Mr. Walberg.

H. Res. 108: Mr. Mike Garcia of California.

H. Res. 154: Mr. Khanna.

H. Res. 198: Mrs. Fletcher.

H. Res. 339: Mr. Donalds.

H. Res. 345: Mr. Nadler.

H. Res. 374: Mr. Frost.

H. Res. 451: Mr. Kelly of Mississippi, Mrs. Miller of

Illinois, Mrs. Chavez-DeRemer, Ms. Budzinski, Mr. Davis of

North Carolina, Mr. Bost, and Mr. Sorensen.

H. Res. 492: Mr. Van Drew, Mr. Schiff, Mr. Vasquez, Ms.

Stevens, Mrs. Gonzalez-Colon, Mr. Vicente Gonzalez of Texas,

Mr. Buchanan, Mr. Davis of Illinois, and Mr. Allred.

H. Res. 509: Mr. Goldman of New York.

H. Res. 585: Mrs. Torres of California, Ms. Lee of

California, and Ms. Dean of Pennsylvania.

H. Res. 615: Mr. Carter of Louisiana.

H. Res. 616: Mr. Peters, Mr. Keating, and Ms. Ross.

H. Res. 623: Mr. Moskowitz and Mr. Trone.

H. Res. 625: Mrs. Trahan, Mr. Costa, and Mr. Torres of New

York.

H. Res. 627: Mr. Ruppersberger, Mrs. Miller of Illinois,

Mr. Langworthy, Ms. Stefanik, Mr. Schiff, and Ms. Craig.

H. Res. 634: Ms. Schakowsky.

H. Res. 651: Mr. DesJarlais.

H. Res. 674: Mr. Moylan, Ms. Crockett, Ms. Norton, Mr.

Posey, Mrs. Peltola, Mr. Nunn of Iowa, Mr. Van Drew, Mr.

Donalds, Mr. Westerman, Mr. Kelly of Pennsylvania, and Mr.

Crenshaw.

Bill Text

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Introduced in HouseIssued February 28, 2023

118th CONGRESS

1st Session

H. R. 1259

IN THE HOUSE OF REPRESENTATIVES

February 28, 2023

Ms. Sánchez (for herself and Mr. Estes) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

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.

Short title

This Act may be cited as the Help Independent Tracks Succeed Act or the HITS Act.

Treatment of certain qualified sound recording productions

(a)

Election To treat costs as expenses

Section 181(a)(1) of the Internal Revenue Code of 1986 is amended by striking qualified film or television production, and any qualified live theatrical production, and inserting qualified film or television production, any qualified live theatrical production, and any qualified sound recording production.

(b)

Dollar limitation

Section 181(a)(2) of such Code is amended by adding at the end the following new paragraph:

(C)

Qualified sound recording production

Paragraph (1) shall not apply to so much of the aggregate cost of any qualified sound recording production, or to so much of the aggregate, cumulative cost of all such qualified sound recording productions in the taxable year, as exceeds $150,000.

(c)

No other deduction or amortization deduction allowable

Section 181(b) of such Code is amended by striking qualified film or television production or any qualified live theatrical production and inserting qualified film or television production, any qualified live theatrical production, or any qualified sound recording production.

(d)

Election

Section 181(c)(1) of such Code is amended by striking qualified film or television production or any qualified live theatrical production and inserting qualified film or television production, any qualified live theatrical production, or any qualified sound recording production.

(e)

Qualified sound recording production defined

Section 181 of such Code is amended by redesignating subsections (f) and (g) as subsections (g) and (h), respectively, and by inserting after subsection (e) the following new subsection:

(f)

Qualified sound recording production

For purposes of this section, the term qualified sound recording production means a sound recording (as defined in section 101 of title 17, United States Code) produced and recorded in the United States.

(f)

Bonus depreciation

(1)

Qualified sound recording production as qualified property

Section 168(k)(2)(A)(i) of such Code is amended—

(A)

by striking or at the end of subclause (IV), by adding or at the end of subclause (V), and by inserting after subclause (V) the following:

(VI)

which is a qualified sound recording production (as defined in subsection (f) of section 181) for which a deduction would have been allowable under section 181 without regard to subsections (a)(2) and (h) of such section or this subsection,

; and

(B)

in subclauses (IV) and (V) (as amended) by striking without regard to subsections (a)(2) and (g) both places it appears and inserting without regard to subsections (a)(2) and (h).

(2)

Production placed in service

Section 168(k)(2)(H) of such Code is amended by striking and at the end of clause (i), by striking the period at the end of clause (ii) and inserting , and, and by adding after clause (ii) the following:

(iii)

a qualified sound recording production shall be considered to be placed in service at the time of initial release or broadcast.

(g)

Conforming amendments

(1)

The heading for section 181 of such Code is amended to read as follows: Treatment of certain qualified productions..

(2)

The table of sections for part VI of subchapter B of chapter 1 of such Code is amended by striking the item relating to section 181 and inserting the following new item:

Sec. 181. Treatment of certain qualified productions.

(h)

Effective date

The amendments made by this section shall apply to productions commencing in taxable years ending after the date of the enactment of this Act.