S 2485 · 117th Congress

Territory Economic Development Tax Credit Act

<p><b>Territory Economic Development Tax Credit Act</b></p> <p>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, an…

Sponsor

Menendez, Robert (D-NJ)

Introduced

2021-07-27

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.