Exit Tax Prevention Act of 2021

Bill: 117-hr-2165
Sponsor: full_name: Rep. Schweikert, David [R-AZ-6]
Introduced: 2021-03-23
Policy area: Taxation
Subjects: Commuting

Computers and information technology

Internet and video services

Internet, web applications, social media

State and local taxation

Tax administration and collection, taxpayers
Latest action: action_date: 2021-10-19
text: Referred to the Subcommittee on Antitrust, Commercial, and Administrative Law.

Summaries:
action_date: 2021-03-23
action_desc: Introduced in House
text: <p><strong>Exit Tax Prevention Act of 2021</strong></p> <p>This bill prohibits a state, or taxing jurisdiction in the state, from imposing an income tax, wealth tax, or any similar tax on a resident who has relocated permanent residence to another state or taxing jurisdiction.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2165 IN THE HOUSE OF REPRESENTATIVES March 23, 2021 Mr. Schweikert (for himself, Mr. Perry , Mr. Mann , Mr. C. Scott Franklin of Florida , and Mr. Hice of Georgia ) introduced the following bill; which was referred to the Committee on the Judiciary A BILL To limit the authority of a State or other related taxing jurisdiction to impose a tax on a resident who has relocated permanent residence to another State or its related taxing jurisdiction.

1. Short title This Act may be cited as the Exit Tax Prevention Act of 2021 . 2. Prohibition on certain State and local taxation A State, or taxing jurisdiction in a State, may not impose an obligation for the collection of an income tax, wealth tax, or any similar tax on a resident who has relocated permanent residence to another State or a taxing jurisdiction of another State. 3. Definitions For purposes of this Act: (1) Income tax The term income tax has the same meaning given to it by the taxing jurisdiction in which the resident lives. (2) Resident The term resident has the same meaning given to it by the taxing jurisdiction in which the resident lives. (3) Similar tax The term similar tax means any imposed tax on an individual relating to the net wealth, value of held assets, or annual income of such individual. (4) Taxation jurisdiction The term taxing jurisdiction means any of the several States, the District of Columbia, any territory or possession of the United States, or any municipality, city, county, township, parish, transportation district, assessment jurisdiction, or other political subdivision within the territorial limits of the United States with the authority to impose a tax, charge, or fee. (5) Wealth tax The term wealth tax means any imposed tax on an individual’s net wealth or value of held assets. 4. Effective date; application (a) Effective date This Act shall apply to calendar years beginning after December 31, 2021. (b) Application This Act shall not apply to any tax obligation that accrues before January 1, 2022.