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   &lt;pre&gt;[Congressional Record Volume 167, Number 37 (Friday, February 26, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Ms. PLASKETT:H.R. 1426.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the United States Constitution.[Page H860]&lt;/pre&gt;
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     &lt;p&gt;&lt;b&gt;Territorial Economic Recovery Act&lt;/b&gt;&lt;/p&gt; &lt;p&gt;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. &lt;/p&gt;
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   Territorial Economic Recovery Act
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     Territorial Economic Recovery Act
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     To amend the Internal Revenue Code of 1986 to exclude certain amounts from the tested income of controlled foreign corporations, and for other purposes.
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H11100
2021-02-26
Ways and Means Committee
hswm00
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House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-02-26
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Introduced in House
IntroReferral
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2021-02-26
9
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Introduced in House
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2021-02-26T14:06:30Z
Referred to
House
Ways and Means Committee
hswm00
Standing
V000081
7
NYDIA
Rep. Velazquez, Nydia M. [D-NY-7]
VELAZQUEZ
M.
D
2021-02-26
NY
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-02-26
2021-02-26
Referred to the House Committee on Ways and Means.
House
Taxation
P000610
Stacey
Del. Plaskett, Stacey E. [D-VI-At Large]
N
Plaskett
E.
D
VI
American Samoa Guam Income tax exclusion Northern Mariana Islands Puerto Rico Taxation of foreign income U.S. territories and protectorates Virgin Islands
2021-02-26
Introduced in House
 <p><b>Territorial Economic Recovery Act</b></p> <p>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. </p>
2021-04-09T12:37:21Z
00
2021-02-26T05:00:00Z
Introduced in House
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Territorial Economic Recovery Act
Territorial Economic Recovery Act
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to exclude certain amounts from the tested income of controlled foreign corporations, and for other purposes.
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IH
Introduced in House
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2023-01-11T13:47:01Z
2023-01-11T13:47:01Z
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2021-02-26
Ways and Means Committee
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Referred to the House Committee on Ways and Means.
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2021-02-26
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American Samoa Guam Income tax exclusion Northern Mariana Islands Puerto Rico Taxation of foreign income U.S. territories and protectorates Virgin Islands
2021-02-26
Introduced in House
 <p><b>Territorial Economic Recovery Act</b></p> <p>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. </p>
2021-04-09T12:37:21Z
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Territorial Economic Recovery Act
Territorial Economic Recovery Act
Display Title
IH
Introduced in House
To amend the Internal Revenue Code of 1986 to exclude certain amounts from the tested income of controlled foreign corporations, and for other purposes.
Official Title as Introduced
IH
Introduced in House
Territorial Economic Recovery Act
Short Title(s) as Introduced
2021-02-26
Referred to the House Committee on Ways and Means.