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119-hr-399119th CongressWALLET

To permanently extend the American Samoa economic development tax credit.

Sponsored By: Representative Radewagen, Aumua Amata Coleman [R-AS-At Large]

Introduced

Summary

This bill would make the American Samoa economic development tax credit permanent by removing the numeric caps and sunset triggers in Section 119(d) of the Tax Relief and Health Care Act of 2006. The amendments would apply to taxable years beginning after 2021.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Permanent American Samoa tax credit

This bill would make the American Samoa economic development tax credit permanent. It would remove numeric caps in current law (the phrases 'first 16' and 'first 10') and delete the 'before January 1, 2022' sunset. The change would apply to taxable years beginning after December 31, 2021. Businesses and taxpayers in American Samoa who qualify under 26 U.S.C. 30A would be able to claim the credit for those tax years.

Sponsors & CoSponsors

Sponsor

Radewagen, Aumua Amata Coleman [R-AS-At Large]

AS • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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