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Territorial Economic Recovery Act

USA117th CongressHR-1426| House 
| Updated: 2/26/2021
Stacey E. Plaskett

Stacey E. Plaskett

Democratic Representative

Virgin Islands

Cosponsors (1)
Nydia M. Velázquez (Democratic)

Ways and Means 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

Bill from Previous Congress

HR 116-6648
Territorial Economic Recovery Act
Feb 26, 2021
Introduced in House
Feb 26, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-6648
    Territorial Economic Recovery Act


  • February 26, 2021
    Introduced in House


  • February 26, 2021
    Referred to the House Committee on Ways and Means.

Taxation

American SamoaGuamIncome tax exclusionNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands

Territorial Economic Recovery Act

USA117th CongressHR-1426| House 
| Updated: 2/26/2021
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

Bill from Previous Congress

HR 116-6648
Territorial Economic Recovery Act
Feb 26, 2021
Introduced in House
Feb 26, 2021
Referred to the House Committee on Ways and Means.
  • Bill from Previous Congress

    HR 116-6648
    Territorial Economic Recovery Act


  • February 26, 2021
    Introduced in House


  • February 26, 2021
    Referred to the House Committee on Ways and Means.
Stacey E. Plaskett

Stacey E. Plaskett

Democratic Representative

Virgin Islands

Cosponsors (1)
Nydia M. Velázquez (Democratic)

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
American SamoaGuamIncome tax exclusionNorthern Mariana IslandsPuerto RicoTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands