House Bill 6648
116th Congress(2019-2020)
Territorial Economic Recovery Act
Introduced
Introduced in House on May 1, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6648
Congress
116
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
Summary
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.
May 1, 2020
05/01/2020
Referred to the House Committee on Ways and Means.
05/01/2020
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:43:03 PM