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HR 399 119th Congress House Taxation

To permanently extend the American Samoa economic development tax credit.

Introduced: January 14, 2025 Introduced by: Radewagen, Aumua Amata Coleman Republican · American Samoa See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 14, 2025
Referred to the House Committee on Ways and Means.
Jan 14, 2025
Introduced in House
 Plain-English summary Congressional Research Service

This bill permanently extends the American Samoa economic development tax credit, effective for tax years beginning after December 31, 2021.

Under current law, certain qualified domestic corporations may be entitled to a tax credit for a percentage of qualified American Samoa wages, allocable employee fringe benefits, and depreciation allowances related to qualified American Samoa tangible property. However, under current law, the tax credit is only available for such corporations for tax years beginning on or before December 31, 2021.

What's happening now January 14, 2025

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1