To permanently extend the American Samoa economic development tax credit.
Sponsored By: Representative Radewagen, Aumua Amata Coleman [R-AS-At Large]
Introduced
Summary
Permanently extends the American Samoa Economic Development Tax Credit. The bill would remove the sunset and numeric timing limits in the note to 26 U.S.C. 30A that previously phased the credit down. Those edits strike the timing phrases that set phased caps and leave the credit in place for taxable years beginning after December 31, 2021. The change relies on the credit’s existing statutory design and does not add new funding or create new programs.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Make American Samoa business credit permanent
This bill would make the American Samoa economic development tax credit permanent. It would remove time limits and the January 1, 2022 cutoff. If you run a qualifying business, you could claim it for taxable years starting after December 31, 2021. The bill would not change how the credit works or who qualifies under current rules.
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.
View on Congress.gov