H.R. 1037: Territorial Tax Parity and Clarification Act
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H.R. 1037: Territorial Tax Parity and Clarification Act
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.
Official title
Territorial Tax Parity and Clarification Act
Plain summary
Territorial Tax Parity and Clarification Act This bill modifies the income source rules that apply with respect to the taxation of capital gains from certain personal property sales in the U.S. Virgin Islands (USVI). Specifically, the bill requires capital gains income earned by a USVI resident to be considered USVI source income regardless of the tax rate imposed by the USVI government. (Under current law, a similar rule applies to other U.S. territories, including Guam, American Samoa, the Northern Mariana Islands, and Puerto Rico.)
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.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
Territorial Tax Parity and Clarification Act
Source: Congressional Research Service summary (Introduced in House)
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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 (3)
- 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).
- Capital gains
- The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.
- 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-118hr1037.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/118/hr>
Record fed-us-cong118-hr1037 · catalog fed-us-congress-bills-cong118 · updated 2026-11-15 by psicol fed-bills-cong118