Skip to main content
S 4783 116th Congress Senate Taxation Business investment and capital Caribbean area Corporate finance and management Employee benefits and pensions Foreign and international corporations Income tax credits Puerto Rico U.S. territories and protectorates Virgin Islands Wages and earnings

Territory Economic Development Tax Credit Act

Introduced: October 1, 2020 See on congress.gov
Sign in to write a letter Sign in to watch
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
Oct 1, 2020
Read twice and referred to the Committee on Finance.
Oct 1, 2020
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

Territory Economic Development Tax Credit Act

This bill establishes a new tax credit for wages and tangible investments made by U.S. domestic corporations with branches operating in U.S. territories. It requires that 80% of credible income must be derived from a territory during a 3-year period, and 75% must come from an active trade or business in a territory. The credit is equal to 40% of eligible wages and benefits paid or provided to employees in the territory, subject to certain limitations.

What's happening now October 1, 2020

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 8646 Identical bill Territory Economic Development Tax Credit Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Wicker, Roger F.
Mississippi · Oct 1, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 4783: Territory Economic Development Tax Credit Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-4783/
MLA
"S. 4783: Territory Economic Development Tax Credit Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-4783/.
Bluebook (legal)
S. 4783, 116th Cong. (2026), https://openamerica.io/bill/116-S-4783/.
Markdown link
[S. 4783: Territory Economic Development Tax Credit Act](https://openamerica.io/bill/116-S-4783/)
Report a problem