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Politiparty

119th Congress Taxation

H.R. 399: To permanently extend the American Samoa economic development tax credit.

Introduced

  1. Introduced (completed)Jan 14, 2025
  2. Passed House (not reached)
  3. Passed Senate (not reached)
  4. To the President (not reached)
  5. Became law (not reached)

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 Congressional Research Service, Library of Congress.

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Other bills by Aumua Amata Radewagen

History

  1. Jan 14, 2025Introduced in the House by Aumua Amata Radewagen.
Show the full action history (2 actions)
  1. Jan 14, 2025Introduced in House
  2. Jan 14, 2025Referred to the House Committee on Ways and Means.