3.0.0 2309 2022-11-01T19:47:14Z 2022-11-01T19:47:14Z House HR 2019-04-12 116 [Congressional Record Volume 165, Number 64 (Friday, April 12, 2019)][House][Pages H3265-H3266]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Miss GONZALEZ-COLON of Puerto Rico:H.R. 2309.Congress has the power to enact this legislation pursuantto the following:The Congress has the power to enact this legislationpursuant to Article I, Section 8, Clauses 1, 3, and 18 of theU.S. Constitution, which provide as follows:The Congress shall have Power To lay and collect Taxes,Duties, Imposts and Excises, to pay the Debts and provide forthe common Defence and general Welfare of the United[[Page H3266]]States; but all Duties, Imposts and Excises shall be uniformthroughout the United States; [. . .]To regulate Commerce with foreign Nations, and among theseveral States, and with the Indian Tribes; [. . .]--AndTo make all laws which shall be necessary and proper forcarrying into Execution the foregoing Powers, and all otherPowers vested by this Constitution in the Government of theUnited States, or in any Department or Officer thereof.Moreover, the Congress has the power to enact thislegislation pursuant to Article IV, Section 3, whichprovides, in relevant part, as follows:The Congress shall have Power to dispose of and make allneedful Rules and Regulations respecting the Territory orother Property belonging to the United States; and nothing inthis Constitution shall be so construed as to Prejudice anyClaims of the United States, or of any particular State.]]> hswm00 Ways and Means Committee House Standing Referred to 2019-04-12T18:33:40Z 2019-04-12 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-04-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-04-12 Introduced in House IntroReferral 1000 9 Library of Congress G000582 Resident Commissioner González-Colón, Jenniffer [R-PR-At Large] Jenniffer Gonzalez-Colon R PR N Taxation Puerto Rico Real estate business Tax administration and collection, taxpayers U.S. territories and protectorates Taxation 00 2019-04-12 Introduced in House 2019-05-01T18:04:55Z Real Estate Exchange Fairness Act of 2019

This bill requires Puerto Rico to be treated as part of the United States for the purpose of determining if an exchange of real property qualifies as a like-kind exchange for tax purposes. (Under current law, real property located in the United States and real property located outside of the United States are not property of a like kind.)

]]> Real Estate Exchange Fairness Act of 2019 Display Title Real Estate Exchange Fairness Act of 2019 Official Title as Introduced To amend the Internal Revenue Code of 1986 to treat Puerto Rico as part of the United States for purposes of determining whether real property qualifies for treatment as a like-kind exchange. Introduced in House IH Short Title(s) as Introduced Real Estate Exchange Fairness Act of 2019 Introduced in House IH Introduced in House 2019-04-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2309ih/xml/BILLS-116hr2309ih.xml 2019-04-12 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.