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Tax Relief for Real Estate Exchanges: Puerto Rico Treated as US

This act changes tax rules to treat Puerto Rico as part of the United States for real estate exchanges. This means property owners in Puerto Rico can now benefit from the same tax deferral rules when exchanging properties as those in the continental US. This change could influence investment decisions and real estate transactions, potentially simplifying asset restructuring and sales.
Key points
Puerto Rico is now considered part of the U.S. for like-kind real estate exchanges.
Property owners in Puerto Rico can now defer capital gains tax when exchanging similar properties.
The changes apply to exchanges completed after the act's enactment date.
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Expired
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Additional Information
Print number: 117_HR_1742
Sponsor: Resident Commissioner González-Colón, Jenniffer [R-PR-At Large]
Process start date: 2021-03-10
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Real Estate Exchange Fairness Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_1742.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-10.

What are the main provisions?

Key points include:

  • Puerto Rico is now considered part of the U.S. for like-kind real estate exchanges.
  • Property owners in Puerto Rico can now defer capital gains tax when exchanging similar properties.
  • The changes apply to exchanges completed after the act's enactment date.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Resident Commissioner González-Colón, Jenniffer [R-PR-At Large].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

CATEGORIES

Taxes Real Estate