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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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Status:
Expired
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Additional Information
Real Estate Exchange Fairness Act of 2021
Print number: HR 1742
Sponsor: Resident Commissioner González-Colón, Jenniffer [R-PR-At Large]
Process start date: 2021-03-10
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

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

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is 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.

Analysis and Potential Impact of HR 1742

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Taxes Real Estate