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Permanent Extension of American Samoa Economic Development Tax Credit.

This bill permanently extends a specific tax credit designed for businesses operating in American Samoa. The goal is to provide long-term certainty and support for the local economy and job creation in the territory. These changes apply retroactively to taxable years beginning after December 31, 2021.
Key points
The economic development tax credit for American Samoa, which previously had an expiration date, is now made permanent.
This change aims to encourage businesses to invest and maintain operations in American Samoa, supporting the local job market.
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Status:
Introduced
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Additional Information
To permanently extend the American Samoa economic development tax credit.
Print number: HR 399
Sponsor: Del. Radewagen, Aumua Amata Coleman [R-AS]
Process start date: 2025-01-14