To permanently extend the American Samoa economic development tax credit.
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
Resolution provisions
Identified Gains
- American Samoa employers
- American Samoa workers
- Eligible territorial businesses
- American Samoa government leaders
Identified Costs
- Federal taxpayers
- IRS territorial tax staff
- Businesses outside American Samoa
- Congress
Legislative Progress
In CommitteeMrs. Radewagen introduced the following bill; which was referred to …
Referred to the House Committee on Ways and Means.
Introduced in House
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
American Samoa employers, American Samoa government leaders, American Samoa workers
Businesses outside American Samoa, Eligible territorial businesses
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.
Learn more about our methodology