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.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary 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.
What just happenedJun 12, 2023
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseJun 12, 2023
- Jun 12, 2023IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Jun 12, 2023IntroReferralIntro-H
Introduced in House
- Jun 12, 2023IntroReferral1000
Introduced in House