[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3968 Introduced in House (IH)]

113th CONGRESS
  2d Session
                                H. R. 3968

  To amend the Internal Revenue Code of 1986 to extend the deduction 
 allowable with respect to income attributable to domestic production 
                       activities in Puerto Rico.


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                    IN THE HOUSE OF REPRESENTATIVES

                            January 29, 2014

 Mr. Pierluisi (for himself and Mr. Grayson) introduced the following 
      bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to extend the deduction 
 allowable with respect to income attributable to domestic production 
                       activities in Puerto Rico.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. EXTENSION OF DEDUCTION ALLOWABLE WITH RESPECT TO INCOME 
              ATTRIBUTABLE TO DOMESTIC PRODUCTION ACTIVITIES IN PUERTO 
              RICO.

    (a) In General.--Section 199(d)(8)(C) of the Internal Revenue Code 
of 1986 is amended--
            (1) by striking ``first 8 taxable years'' and inserting 
        ``first 10 taxable years'', and
            (2) by striking ``January 1, 2014'' and inserting ``January 
        1, 2016''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2013.
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