Counterfeit Recording Act - States that it is the purpose of this Act to insure that those engaged in the trade of counterfeit recordings do not escape prosecution. Imposes a criminal penalty of not more than $1,000 or imprisonment for not more than one year on anyone engaged in interstate or foreign commerce who knowingly: (1) manufactures a counterfeit recording; (2) knowingly sells, rents, or leases any counterfeit recording; or (3) transports, delivers, or receives any counterfeit recording.