HOUSE 1055118th CongressReferred to the House Committee on Ways and Means.
Territorial Economic Recovery Act
- Last Action
- 2/14/2023
Actions
- 2023-02-14Referred to the House Committee on Ways and Means.
- 2023-02-14Introduced in House
- 2023-02-14Introduced in House
CRS Summary
As of 2023-02-14 (00)
Territorial Economic Recovery Act
This bill restores the favorable tax treatment of investment in U.S. territories and possessions. It treats such investment as domestic rather than foreign investment and requires investors to have an active trade or business in a U.S. territory or possession with a certain percentage of income derived from such territory or possession.
Cosponsors (1)
- NYDIA VELAZQUEZ (D-NY)
Subjects
- American Samoa
- Guam
- Income tax exclusion
- Northern Mariana Islands
- Puerto Rico
- Taxation of foreign income
- U.S. territories and protectorates
- Virgin Islands
Sourced from Congress.gov (public domain).
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