[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 2203 Introduced in Senate (IS)]

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114th CONGRESS
  1st Session
                                S. 2203

To amend the Internal Revenue Code of 1986 to make residents of Puerto 
Rico eligible for the earned income tax credit and to provide equitable 
 treatment for residents of Puerto Rico with respect to the refundable 
                    portion of the child tax credit.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            October 22, 2015

     Mr. Menendez (for himself, Mrs. Gillibrand, Mr. Schumer, Mr. 
  Blumenthal, Mr. Booker, Mr. Heinrich, Mr. Sanders, and Ms. Warren) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to make residents of Puerto 
Rico eligible for the earned income tax credit and to provide equitable 
 treatment for residents of Puerto Rico with respect to the refundable 
                    portion of the child tax credit.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Earned Income Tax Credit and Child 
Tax Credit Equity for Puerto Rico Act of 2015''.

SEC. 2. PUERTO RICO RESIDENTS ELIGIBLE FOR EARNED INCOME TAX CREDIT.

    (a) In General.--Section 32 of the Internal Revenue Code of 1986 is 
amended by adding at the end the following new subsection:
    ``(n) Residents of Puerto Rico.--
            ``(1) In general.--In the case of residents of Puerto 
        Rico--
                    ``(A) the United States shall be treated as 
                including Puerto Rico for purposes of subsections 
                (c)(1)(A)(ii)(I) and (c)(3)(C),
                    ``(B) subsection (c)(1)(D) shall not apply to 
                nonresident alien individuals who are residents of 
                Puerto Rico, and
                    ``(C) adjusted gross income and gross income shall 
                be computed without regard to section 933 for purposes 
                of subsections (a)(2)(B) and (c)(2)(A)(i).
            ``(2) Limitation.--The credit allowed under this section by 
        reason of this subsection for any taxable year shall not exceed 
        the amount, determined under regulations or other guidance 
        promulgated by the Secretary, that a similarly situated 
        taxpayer would receive if residing in a State.''.
    (b) Child Tax Credit Not Reduced.--Subclause (II) of section 
24(d)(1)(B)(ii) of such Code is amended by inserting before the period 
``(determined without regard to section 32(n) in the case of residents 
of Puerto Rico)''.
    (c) Effective Date.--The amendment made shall apply to taxable 
years beginning after December 31, 2015.

SEC. 3. EQUITABLE TREATMENT FOR RESIDENTS OF PUERTO RICO WITH RESPECT 
              TO THE REFUNDABLE PORTION OF THE CHILD TAX CREDIT.

    (a) In General.--Section 24(d)(1) of the Internal Revenue Code of 
1986 is amended by inserting ``or section 933'' after ``section 112''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to taxable years beginning after December 31, 2015.
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