United States · Bill · S
S. 4783 (116th)
Territory Economic Development Tax Credit Act
Introduced
1 October 2020
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
5 December 2025
Summary
Territory Economic Development Tax Credit Act This bill establishes a new tax credit for wages and tangible investments made by U.S. domestic corporations with branches operating in U.S. territories. It requires that 80% of credible income must be derived from a territory during a 3-year period, and 75% must come from an active trade or business in a territory. The credit is equal to 40% of eligible wages and benefits paid or provided to employees in the territory, subject to certain limitations.
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 1 October 2020
Introduced in Senate (PDF)
Introduced in Senate · EN · 1 October 2020
Introduced in Senate
summary · EN · 1 October 2020
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/4783
- Open data entity: https://api.congress.gov/v3/bill/116/s/4783