HR 399 · 119th Congress — To permanently extend the American Samoa economic development tax credit.
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…
- Congress
- 119
- Bill
- HR 399
- Status
- Introduced
- Introduced
- 2025-01-14
- Latest action date
- 2025-01-14
Summary
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.
This summary may describe an earlier version. Check the official record for current wording.
Latest action
Referred to the House Committee on Ways and Means.
Sponsors
- Del. Radewagen, Aumua Amata Coleman [R-AS-At Large]
Republican · American Samoa · House at-large · Republican