HR 1055 · 118th Congress · Taxation

Territorial Economic Recovery Act

Introduced 2023-02-14· Sponsored by Del. Plaskett, Stacey E. [D-VI-At Large]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2023-02-14)

Plain Language Summary

[AI summary unavailable — showing source text] 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.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Democrat
Rep. Velazquez, Nydia M. [D-NY-7]NY