Child Tax Credit Equity for Puerto Rico Act of 2019

Bill: 116-hr-302
Sponsor: full_name: Resident Commissioner González-Colón, Jenniffer [R-PR-At Large]
Introduced: 2019-01-08
Policy area: Taxation
Subjects: Caribbean area

Income tax credits

Income tax exclusion

Puerto Rico

Tax treatment of families
Latest action: action_date: 2019-01-08
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-01-08
action_desc: Introduced in House
text: <p><b>Child Tax Credit Equity for Puerto Rico Act of 2019</b></p> <p>This bill modifies the rules for the refundable portion of the child tax credit to (1) allow residents of Puerto Rico to claim the refundable portion of the child tax credit on the same basis as U.S. taxpayers, and (2) allow residents of Puerto Rico with one or two children to claim the refundable portion of the credit on the same basis as residents with three or more children. </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 302 IN THE HOUSE OF REPRESENTATIVES January 8, 2019 Miss González-Colón of Puerto Rico (for herself, Mr. Serrano , Mr. Duffy , and Mr. Fitzpatrick ) 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 provide equitable treatment for residents of Puerto Rico with respect to the refundable portion of the child tax credit and to provide the same treatment to families in Puerto Rico with one child or two children that is currently provided to island families with three or more children.

1. Short title This Act may be cited as the Child Tax Credit Equity for Puerto Rico Act of 2019 . 2. Equitable treatment for residents of Puerto Rico with respect to the refundable portion of the child tax credit (a) In general Section 24(d)(1) of the Internal Revenue Code of 1986 is amended by inserting or section 933 after section 112 . (b) Effective date The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2018. 3. Same treatment of families in Puerto Rico with one child or two children that is currently provided to island families with three or more children (a) In general Section 24(d)(1) of the Internal Revenue Code of 1986 is amended by adding at the end the following: In the case of an individual who is a bona fide resident of Puerto Rico during the entire taxable year, subparagraph (B)(ii) shall be applied by substituting 1 or more qualifying children for 3 or more qualifying children . . (b) Effective date The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 2018.