Bill118th CongressFiled Feb 14, 2023Taxation
H.R. 1055
Territorial Economic Recovery Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Feb 14, 2023)
Territorial Economic Recovery Act
This bill restores the favorable tax treatment of investment in U.S. territories and possessions. It treats such investment as domestic rather than foreign investment and requires investors to have an active trade or business in a U.S. territory or possession with a certain percentage of income derived from such territory or possession.
What just happenedFeb 14, 2023
Referred to the House Committee on Ways and Means.
Who’s behind it
Del. Plaskett, Stacey E. [D-VI-At Large](D-VI)Sponsor
1 cosponsor1 D
1cosponsors1committees3actions
- Introduced in HouseFeb 14, 2023
- Feb 14, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Feb 14, 2023IntroReferralIntro-H
Introduced in House
- Feb 14, 2023IntroReferral1000
Introduced in House