To amend the Internal Revenue Code of 1986 to modify the residence and source rules to provide for economic recovery in the possessions of the United States.
Summary
What This Bill Does
The bill creates short title This Act may be cited as the Territorial Tax Equity and Economic Growth Act of 2023 and requires modification to residence and source rules involving possessions Section 937(a) of the Internal Revenue Code of 1986 is amended— by striking the last sentence, and by amending paragraph (1) to read as follows. It relies on tax rate changes, definition changes, and compliance mandates. The main policy areas are Regulated Industries, Finance, and Environment.
Who Benefits and How
Regulated entities and members of the public affected by the bill could face reduced risk and Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Environmental and public health interests affected by the bill would take on compliance duties, and Businesses and employers affected by the bill would take on compliance duties.
Key Provisions
- Creates short title This Act may be cited as the Territorial Tax Equity and Economic Growth Act of 2023.
- Requires modification to residence and source rules involving possessions Section 937(a) of the Internal Revenue Code of 1986 is amended— by striking the last sentence, and by amending paragraph (1) to read as follows...
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
The bill creates short title This Act may be cited as the Territorial Tax Equity and Economic Growth Act of 2023 and requires modification to residence and source rules involving possessions Section 937(a) of the Internal Revenue Code of 1986 is amended— by striking the last sentence, and by amending paragraph (1) to read as follows.
Key Policy Areas
Regulated Industries, Finance, Environment
Primary Purpose
The bill creates short title This Act may be cited as the Territorial Tax Equity and Economic Growth Act of 2023 and requires modification to residence and source rules involving possessions Section 937(a) of the Internal Revenue Code of 1986 is amended— by striking the last sentence, and by amending paragraph (1) to read as follows.
Policy Domains
Whole bill
Identified Gains
- Regulated entities and members of the public affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Environmental and public health interests affected by the bill
- Businesses and employers affected by the bill
Legislative Progress
IntroducedMs. Plaskett introduced the following bill; which was referred to …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
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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