H.R. 1034: Territorial Tax Equity and Economic Growth Act of 2023

118th Congress · introduced 2023-02-14 · Taxation · Latest: Referred to the House Committee on Ways and Means.

federal

Follow this bill, step by step

Where it came from: introduced 2023-02-14 · official record
Who proposed it: Del. Plaskett, Stacey E. [D-VI-At Large] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Ways and Means. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Territorial Tax Equity and Economic Growth Act of 2023

Plain summary

Territorial Tax Equity and Economic Growth Act of 2023 This bill modifies the residence and income source rules that apply with respect to the taxation of income from U.S. possessions (i.e., Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, and the Virgin Islands). The bill specifies that a bona fide resident of a possession must have a substantial presence in the possession for at least 122 days during the year. Under current law, the person must be present for at least 183 days during the year. Under current law, income is not possession source income if it is treated as (1) income from sources within the United States, or (2) as effectively connected with the conduct of a trade or business within the United States. The bill amends this rule to specify that it applies only to the extent that the income is attributable to an office or fixed place of business within the United States, specify principles that must be used to determine whether income from sources without a possession is effectively connected with the conduct of a trade or business within the possession, and prohibit income from activities within the United States which are of a preparatory or auxiliary character from being treated as income from sources within the United States or as effectively connected with the conduct of a trade or business within the United States. The bill also modifies the income source rules that apply to certain personal property sales in the Virgin Islands.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

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What does this mean? (plain words)

Official text

Territorial Tax Equity and Economic Growth Act of 2023

Source: Congressional Research Service summary (Introduced in House)

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Alternatives

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Del. Plaskett, Stacey E. [D-VI-At Large] · 0 cosponsors

Cost estimate: No cost estimate published yet.

Sponsor's campaign money: Del. Plaskett, Stacey E. [D-VI-At Large] reported raising $712,670 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (2)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Rulemaking: The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-118hr1034.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/118/hr>

Record fed-us-cong118-hr1034 · catalog fed-us-congress-bills-cong118 · updated 2026-11-15 by psicol fed-bills-cong118