H.R. 2220 · 112th Congress
Derek M. Hodge Virgin Islands Improvement Act of 2011
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
ChristensenSponsorNo cosponsors.
Derek M. Hodge Virgin Islands Improvement Act of 2011 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated by an individual under the age of 61 as being under investment by the Virgin Islands Investment Program for at least 30 years.
What it does: CRS summary · Introduced in House · Jun 16, 2011
Derek M. Hodge Virgin Islands Improvement Act of 2011 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated by an individual under the age of 61 as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of $50 billion or less. Imposes a 1.5% annual tax for 10 years, and 1% thereafter, on managed funds to benefit Virgin Island infrastructure development.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Derek M. Hodge Virgin Islands Improvement Act of 2011
Latest action (Jun 16, 2011): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 16, 2011
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.