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EconomyH.R. 399Not Yet VotedComments

To permanently extend the American Samoa economic development tax credit.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, current stage
  3. Floor Vote, not yet
  4. Outcome, not yet

What This Bill Does

This bill permanently extends the American Samoa economic development tax credit, effective for tax years beginning after December 31, 2021.

Under current law, certain qualified domestic corporations may be entitled to a tax credit for a percentage of qualified American Samoa wages, allocable employee fringe benefits, and depreciation allowances related to qualified American Samoa tangible property. However, under current law, the tax credit is only available for such corporations for tax years beginning on or before December 31, 2021.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. Library of CongressIntroduced in House
  2. House floor actionsReferred to the House Committee on Ways and Means.
  3. Introduced
  4. Committee

Comments

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