H.R.5032: Territory Economic Development Tax Credit Act

About This Bill

Bill Version

Bill Summary

Territory Economic Development Tax Credit Act This bill establishes a new tax credit for wages and tangible investments made by U.S. domestic corporations with branches operating in U.S. territories. It requires that 80% of credible income must be derived from a territory during a 3-year period, and 75% must come from an active trade or business in a territory. The credit is equal to 40% of eligible wages and benefits paid or provided to...

(Source: Library of Congress)

Bill Actions

Date Description
Aug. 13, 2021
Referred to the House Committee on Ways and Means.
Aug. 13, 2021

Introduced in the House by Thomas Suozzi (D-N.Y.)

Close Comment Creative Commons Donate Email Facebook Mobile Phone Podcast Print Google News logo Google_NewsInitiative_Lockup_FullColor RSS Search Search Twitter WhatsApp Resolving differences Check Building Arrow right Info circle Oops OOPS Pencil File text Bars Search Close Cogs Filter Compare Revolving Door Info card Activity Member menu Globe Document External link Quote News Calendar No Vote
Current site Current page