To permanently extend the American Samoa economic development tax credit. — HR. 399

Q: What does Preamble of HR 399 do?

This bill aims to permanently extend the American Samoa economic development tax credit.

Q: What does AMERICAN SAMOA ECONOMIC DEVELOPMENT TAX CREDIT MADE of HR 399 do?

This section amends Section 119(d) of division A of the Tax Relief and Health Care Act of 2006. The amendments remove the phrase 'first 16' from paragraph (1). The amendments remove the phrase 'and before January 1, 2022' from paragraph (1). The amendments remove the phrase 'first 10' from paragraph (2). The amendments remove the phrase 'and before January 1, 2022' from paragraph (2). The amendments apply to taxable years beginning after December 31, 2021.

Last updated: 1/14/2025 · Introduced: 1/14/2025

Author: Aumua Amata Radewagen (R-AS)

TL;DR (AI)

This bill permanently extends the American Samoa economic development tax credit, removing previous expiration dates.
The tax credit applies to taxable years beginning after December 31, 2021.

119th Congressin committeeOfficial page

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Includes provisions on preamble, american samoa economic development tax credit made.

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