H.R. 399 · 119th Congress
To permanently extend the American Samoa economic development tax credit.
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R
Amata RadewagenSponsorNo cosponsors.
This bill permanently extends the American Samoa economic development tax credit, effective for tax years beginning after December 31, 2021.
What it does: CRS summary · Introduced in House · Jan 14, 2025
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To permanently extend the American Samoa economic development tax credit.
Latest action (Jan 14, 2025): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Jan 14, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.