S 3120
110th Congress
Senate
Taxation
Arts, Culture, Religion
Cost of living adjustments
Economics and Public Finance
Entertainers
Income tax
Indexing (Economic policy)
Performing arts
Tax deductions
A bill to amend the Internal Revenue Code of 1986 to increase the income limitations for qualified performing artists eligible for an above-the-line deduction for performance expenses.
Introduced: June 12, 2008
Introduced by:
Schumer, Charles E.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 12, 2008
Read twice and referred to the Committee on Finance.
Jun 12, 2008
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to increase from $16,000 to $30,000 the adjusted gross income limitation applicable to qualified performing artists who are eligible to deduct their performance expenses from gross income (above-the-line tax deduction). Provides for an inflation adjustment to such increased income limitation beginning in 2009.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1