[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2309 Introduced in House (IH)]

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116th CONGRESS
  1st Session
                                H. R. 2309

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.


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                    IN THE HOUSE OF REPRESENTATIVES

                             April 12, 2019

Miss Gonzalez-Colon of Puerto Rico introduced the following bill; which 
            was referred to the Committee on Ways and Means

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                                 A BILL


 
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.

    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 ``Real Estate Exchange Fairness Act of 
2019''.

SEC. 2. PUERTO RICO TREATED AS PART OF UNITED STATES FOR PURPOSES OF 
              LIKE-KIND EXCHANGES.

    (a) In General.--Section 1031(h) of the Internal Revenue Code of 
1986 is amended by adding at the end the following: ``For purposes of 
the preceding sentence, the term `United States' shall be treated as 
including Puerto Rico.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to exchanges completed after the date of the enactment of this Act.
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