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S 3940 116th Congress Senate Taxation American Samoa Guam Income tax exclusion Northern Mariana Islands Puerto Rico Taxation of foreign income U.S. territories and protectorates Virgin Islands

Territorial Economic Recovery Act

Introduced: June 11, 2020 Introduced by: Wicker, Roger F. Republican · Mississippi See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 11, 2020
Read twice and referred to the Committee on Finance.
Jun 11, 2020
Introduced in Senate
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 Plain-English summary Congressional Research Service

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.

What's happening now June 11, 2020

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 6648 Related bill Territorial Economic Recovery Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3940: Territorial Economic Recovery Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-3940/
MLA
"S. 3940: Territorial Economic Recovery Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-3940/.
Bluebook (legal)
S. 3940, 116th Cong. (2026), https://openamerica.io/bill/116-S-3940/.
Markdown link
[S. 3940: Territorial Economic Recovery Act](https://openamerica.io/bill/116-S-3940/)
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