To permanently extend the American Samoa economic development tax credit.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill makes the American Samoa economic development tax credit permanent. The credit, originally created by the Tax Relief and Health Care Act of 2006, was a temporary incentive that had been extended multiple times but was set to expire. This bill removes the expiration dates entirely, applying retroactively to taxable years beginning after December 31, 2021.
Who Benefits and How
Businesses operating in American Samoa benefit by receiving a permanent tax credit that encourages economic investment in the territory. Residents of American Samoa benefit from the continued economic activity and employment that the tax credit is designed to attract and sustain. The permanence removes uncertainty that came with repeated temporary extensions.
Who Bears the Burden and How
The federal government bears the cost through reduced tax revenue, as the credit reduces taxes owed by qualifying businesses. All U.S. taxpayers indirectly bear this cost, as the lost revenue must be offset by other revenue sources or added to the deficit.
Key Provisions
- Removes the 16-year and 10-year time limits on the American Samoa economic development tax credit
- Strikes the expiration date of January 1, 2022 from the authorizing statute
- Applies retroactively to taxable years beginning after December 31, 2021
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Permanently extends the American Samoa economic development tax credit, which was previously temporary and set to expire, by removing sunset dates from the Tax Relief and Health Care Act of 2006.
Key Policy Areas
Taxation, Territorial Economic Development
Primary Purpose
Permanently extends the American Samoa economic development tax credit, which was previously temporary and set to expire, by removing sunset dates from the Tax Relief and Health Care Act of 2006.
Policy Domains
Whole Bill
Identified Gains
- Businesses operating in American Samoa
- American Samoa residents and workers
Identified Costs
- Federal government (reduced tax revenue)
- U.S. taxpayers
Legislative Progress
IntroducedMrs. Radewagen introduced the following bill; which was referred to …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Businesses operating in American Samoa
Tuna canning operations in American Samoa
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
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