H.R. 4026 · 118th Congress
To amend the Internal Revenue Code of 1986 to allow certain credits and deductions to be taken as a…
Full title
To amend the Internal Revenue Code of 1986 to allow certain credits and deductions to be taken as a refundable tax credit by Puerto Rico businesses or residents, and to extend such credits and deductions to possessions of the United States.
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
González-ColónSponsor2 cosponsors · 1 D, 1 R
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill extends the tax credit for expenditures to provide access to disabled individuals to U.S. possessions and makes such credit refundable for bona fide residents of Puerto Rico.
What it does: CRS summary · Introduced in House · Jun 12, 2023
This bill extends the tax credit for expenditures to provide access to disabled individuals to U.S. possessions and makes such credit refundable for bona fide residents of Puerto Rico.
The bill permits Puerto Rican residents a refundable tax credit for 21% of amounts otherwise allowable as a tax deduction for expenditures to remove architectural and transportation barriers to the handicapped and elderly. It also requires payment to U.S. possessions for taxable years beginning after December 31, 2022, of an amount equal to the their losses due to the application of the credits and deductions by this bill.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To amend the Internal Revenue Code of 1986 to allow certain credits and deductions to be taken as a refundable tax credit by Puerto Rico businesses or residents, and to extend such credits and deductions to possessions of the United States.
Latest action (Jun 12, 2023): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jun 12, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.