To amend the Internal Revenue Code of 1986 to make permanent the deduction for income attributable to domestic production activities in Puerto Rico.

Bill: 114-hr-5400
Sponsor: full_name: Rep. Price, Tom [R-GA-6]
Introduced: 2016-06-07
Policy area: Taxation
Subjects: Caribbean area

Electric power generation and transmission

Income tax deductions

Lease and rental services

Manufacturing

Oil and gas

Public utilities and utility rates

Puerto Rico

U.S. territories and protectorates

Water use and supply
Latest action: action_date: 2016-06-07
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-06-07
action_desc: Introduced in House
text: <p>This bill amends the Internal Revenue Code to make permanent the tax deduction for income attributable to domestic production activities in Puerto Rico. (Under current law, the deduction expires on January 1, 2017.)</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5400 IN THE HOUSE OF REPRESENTATIVES June 7, 2016 Mr. Tom Price of Georgia (for himself and Mr. Pierluisi ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to make permanent the deduction for income attributable to domestic production activities in Puerto Rico.

1. Deduction for income attributable to domestic production activities in Puerto Rico made permanent (a) In general Section 199(d)(8) of the Internal Revenue Code of 1986 is amended by striking subparagraph (C). (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2016.