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Tax Exemption for Puerto Rico and US Territory Insurance Policies

This act exempts insurance policies issued by companies in Puerto Rico and other U.S. territories from a specific excise tax. This could lead to lower insurance costs for residents and businesses in these areas, potentially impacting their personal finances. The changes apply to premiums paid after the act's enactment.
Key points
Insurance companies from Puerto Rico and other U.S. territories will no longer pay a specific excise tax on policies.
This may reduce insurance costs for individuals and businesses in these territories, affecting their expenses.
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Status:
Expired
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Additional Information
Puerto Rico Insurance Excise Tax Exemption Act of 2023
Print number: HR 377
Sponsor: Rescom. González-Colón, Jenniffer [R-PR-At Large]
Process start date: 2023-01-17
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 Exemption for Puerto Rico and US Territory Insurance Policies

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 377.

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 2023-01-17.

What are the main provisions?

Key points include:

  • Insurance companies from Puerto Rico and other U.S. territories will no longer pay a specific excise tax on policies.
  • This may reduce insurance costs for individuals and businesses in these territories, affecting their expenses.

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 Rescom. 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 2025-12-25.

Analysis and Potential Impact of HR 377

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.

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Taxes