Title: Performing Artist Tax Parity Act of 2019
Policy area: Taxation

Summary:
Performing Artist Tax Parity Act of 2019
This bill amends the Internal Revenue Code, with respect to the above-the-line deduction of expenses of performing artist employees, to increase to $100,000 ($200,000 for joint returns) the adjusted gross income limitation for calculating the phaseout of the deduction. The increased amount is adjusted for inflation for taxable years beginning after 2019.

[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3121 Introduced in House (IH)]

<DOC>






116th CONGRESS
  1st Session
                                H. R. 3121

  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.


_______________________________________________________________________


                    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

_______________________________________________________________________

                                 A BILL


 
  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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Performing Artist Tax Parity Act of 
2019''.

SEC. 2. ABOVE-THE-LINE DEDUCTION OF EXPENSES OF PERFORMING ARTISTS.

    (a) In General.--Section 62(a)(2)(B) of the Internal Revenue Code 
of 1986 is amended--
            (1) by striking ``performing artists.--The deductions'' and 
        inserting the following: ``performing artists.--
                            ``(i) In general.--The deductions'', and
            (2) by adding at the end the following new clauses:
                            ``(ii) Phaseout.--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).
                            ``(iii) Cost-of-living adjustment.--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--
                                    ``(I) such dollar amount, 
                                multiplied by
                                    ``(II) 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.
                        If any amount after adjustment under the 
                        preceding sentence is not a multiple of $1,000, 
                        such amount shall be rounded to the nearest 
                        multiple of $1,000.''.
    (b) 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''.
    (c) Conforming Amendments.--
            (1) 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''.
            (2) 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).
                                 <all>