HR399-119

In Committee

To permanently extend the American Samoa economic development tax credit.

119th Congress Introduced Jan 14, 2025

Summary

What This Bill Does

This bill makes the American Samoa economic development tax credit permanent. It amends section 119(d) of division A of the Tax Relief and Health Care Act of 2006 by striking limits tied to the first 16 taxable years and the pre-January 1, 2022 period, and by striking related limits tied to the first 10 taxable years and the same 2022 sunset. The amendments apply to taxable years beginning after December 31, 2021. The practical result is that eligible businesses connected to American Samoa can continue using the economic development credit without the expired sunset, which supports local employment and investment but reduces federal tax revenue compared with allowing the credit to expire.

Who Benefits and How

American Samoa employers benefit from permanent access to the economic development tax credit. American Samoa workers benefit indirectly if the credit supports local jobs and business activity. Eligible territorial businesses benefit because taxable years after 2021 remain covered. American Samoa government leaders benefit from a federal tax incentive supporting territorial economic development.

Who Bears the Burden and How

Federal taxpayers bear the cost of permanently extending the tax credit. IRS territorial tax staff must administer the credit without the prior sunset limits. Businesses outside American Samoa do not receive the territorial credit benefit. Congress loses a recurring sunset point for reconsidering the credit.

Key Provisions

  • Provides permanent extension of the American Samoa economic development tax credit.
  • Repeals the first 16 taxable-year and January 1, 2022 sunset language.
  • Repeals related first 10 taxable-year and January 1, 2022 limits.
  • Applies the extension 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 by removing the first 16 taxable-year and January 1, 2022 sunset language for the credit and removing the first 10 taxable-year and January 1, 2022 limitations for related rules, with amendments applying to taxable years beginning after December 31, 2021.

Key Policy Areas

Tax, American Samoa, Economic Development

Primary Purpose

Permanently extends the American Samoa economic development tax credit by removing the first 16 taxable-year and January 1, 2022 sunset language for the credit and removing the first 10 taxable-year and January 1, 2022 limitations for related rules, with amendments applying to taxable years beginning after December 31, 2021.

Policy Domains

Tax American Samoa Economic Development

Resolution provisions

Identified Gains
  • American Samoa employers
  • American Samoa workers
  • Eligible territorial businesses
  • American Samoa government leaders
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: ih
American Samoa workers:
American Samoa employers:
Eligible territorial businesses:
American Samoa government leaders:
Identified Costs
  • Federal taxpayers
  • IRS territorial tax staff
  • Businesses outside American Samoa
  • Congress
Model: codex-gpt-5 | Version: bill_summary_v2 | Source: ih
Congress:
Federal taxpayers:
IRS territorial tax staff:
Businesses outside American Samoa:

Legislative Progress

In Committee
Introduced Committee Passed
Jan 14, 2025

Mrs. Radewagen introduced the following bill; which was referred to …

Jan 14, 2025

Referred to the House Committee on Ways and Means.

Jan 14, 2025

Introduced in House

Stakeholder Effects

cui bono?

How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.

Territories
3 mentions across 1 clause
+1 positive ?2 uncertain

American Samoa employers, American Samoa government leaders, American Samoa workers

Small Business
2 mentions across 1 clause
-1 negative ?1 uncertain

Businesses outside American Samoa, Eligible territorial businesses

Taxpayers
1 mention across 1 clause
-1 negative

Taxpayers

Government
1 mention across 1 clause
-1 negative

IRS territorial tax staff

1/1
sections analyzed
Full impact breakdown

Bill Structure & Actor Mappings

Who is "The Secretary" in each section?

Domains
Tax American Samoa Economic Development

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.

Learn more about our methodology