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Territorial Economic Recovery Act

USA116th CongressS-3940| Senate 
| Updated: 6/11/2020
Roger F. Wicker

Roger F. Wicker

Republican Senator

Mississippi

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
May 1, 2020

Latest Companion Bill Action

HR 116-6648
Introduced in House
Jun 11, 2020
Introduced in Senate
Jun 11, 2020
Read twice and referred to the Committee on Finance.
  • May 1, 2020

    Latest Companion Bill Action

    HR 116-6648
    Introduced in House


  • June 11, 2020
    Introduced in Senate


  • June 11, 2020
    Read twice and referred to the Committee on Finance.

Taxation

Related Bills

  • HR 116-6648: Territorial Economic Recovery Act
American SamoaGuamIncome tax exclusionNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands

Territorial Economic Recovery Act

USA116th CongressS-3940| Senate 
| Updated: 6/11/2020
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
May 1, 2020

Latest Companion Bill Action

HR 116-6648
Introduced in House
Jun 11, 2020
Introduced in Senate
Jun 11, 2020
Read twice and referred to the Committee on Finance.
  • May 1, 2020

    Latest Companion Bill Action

    HR 116-6648
    Introduced in House


  • June 11, 2020
    Introduced in Senate


  • June 11, 2020
    Read twice and referred to the Committee on Finance.
Roger F. Wicker

Roger F. Wicker

Republican Senator

Mississippi

Finance Committee

Taxation

Related Bills

  • HR 116-6648: Territorial Economic Recovery Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
American SamoaGuamIncome tax exclusionNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands