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Tax Credits for Puerto Rico and US Possessions Businesses and Residents

This bill amends tax laws to allow businesses and residents in Puerto Rico and other U.S. possessions to claim refundable tax credits. These credits cover expenses for providing access to disabled individuals and removing architectural barriers. The aim is to provide financial relief and improve accessibility in these areas.
Key points
Puerto Rico businesses and residents can claim refundable tax credits for expenditures on disabled access.
Similar benefits are extended to other U.S. possessions, including American Samoa, to support local communities.
The changes apply to tax years beginning after December 31, 2022.
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Additional Information
Print number: 118_HR_4026
Sponsor: Rescom. González-Colón, Jenniffer [R-PR-At Large]
Process start date: 2023-06-12
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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

To amend the Internal Revenue Code of 1986 to allow certain credits and deductions to be taken as a refundable tax credit by Puerto Rico businesses or residents, and to extend such credits and deductions to possessions of the United States.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_4026.

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 2023-06-12.

What are the main provisions?

Key points include:

  • Puerto Rico businesses and residents can claim refundable tax credits for expenditures on disabled access.
  • Similar benefits are extended to other U.S. possessions, including American Samoa, to support local communities.
  • The changes apply to tax years beginning after December 31, 2022.
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.

CATEGORIES

Taxes Benefits