3.0.0 3940 2023-01-11T13:46:15Z 2023-01-11T13:46:15Z Senate S 2020-06-11 116 ssfi00 Finance Committee Senate Standing Referred to 2020-06-11T17:19:46Z Territorial Economic Recovery Act 116 6648 HR 2020-05-01 Referred to the House Committee on Ways and Means. Related bill CRS 2020-06-11 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-06-11 Introduced in Senate IntroReferral 10000 9 Library of Congress W000437 Sen. Wicker, Roger F. [R-MS] Roger Wicker R MS F. N Taxation American Samoa Guam Income tax exclusion Northern Mariana Islands Puerto Rico Taxation of foreign income U.S. territories and protectorates Virgin Islands Taxation 00 2020-06-11 Introduced in Senate 2021-01-21T19:17:56Z 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.

]]> Territorial Economic Recovery Act Display Title Territorial Economic Recovery Act Short Title(s) as Introduced Territorial Economic Recovery Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to exclude certain amounts from the tested income of controlled foreign corporations, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-06-11T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3940is/xml/BILLS-116s3940is.xml 2020-06-11 Read twice and referred to the Committee on Finance. 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.