H. R. 3121
IN THE HOUSE OF REPRESENTATIVES
June 5, 2019
Ms. Judy Chu of California (for herself and Mr. Buchanan) introduced the following bill; which was referred to the Committee on Ways and Means
To amend the Internal Revenue Code of 1986 to increase the adjusted gross income limitation for above-the-line deduction of expenses of performing artist employees, and for other purposes.
This Act may be cited as the
Performing Artist Tax Parity Act of 2019.
Above-the-line deduction of expenses of performing artists
Section 62(a)(2)(B) of the Internal Revenue Code of 1986 is amended—
performing artists.—The deductions and inserting the following:
by adding at the end the following new clauses:
The amount of expenses taken into account under clause (i) shall be reduced (but not below zero) by 10 percentage points for each $2,000 ($4,000 in the case of a joint return), or fraction thereof, by which the taxpayer’s adjusted gross income (determined without regard to this subparagraph) for the taxable year exceeds $100,000 (200 percent of such amount in the case of a joint return).
In the case of any taxable year beginning in a calendar year after 2019, the $100,000 amount under clause (ii) shall be increased by an amount equal to—
such dollar amount, multiplied by
the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting
calendar year 2018 for
calendar year 2016 in subparagraph (A)(ii) thereof.
Clarification regarding commission paid to performing artist’s manager or agent
Section 62(a)(2)(B)(i) of such Code, as amended by subsection (a), is amended by inserting before the period at the end the following:
, including any commission paid to the performing artist’s manager or agent.
Section 62(a)(2)(B)(i) of such Code, as amended by the preceding provisions of this Act, is amended by striking
by him and inserting
by the performing artist.
Section 62(b)(a) of such Code is amended by inserting
and at the end of subparagraph (A), by striking
, and at the end of subparagraph (B) and inserting a period, and by striking subparagraph (C).