H.R. 473House111th Congress (2009-2011)In Committee

To amend the Internal Revenue Code of 1986 to extend eligibility under the new markets tax credit for community development entities created or organized in American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, and the Virgin Islands.

Introduced January 13, 2009

Legislative Activity

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HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

January 13, 2009

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HouseIntro Referral

Introduced in House

January 13, 2009

HouseIntro Referral

Sponsor introductory remarks on measure. (CR E76)

January 13, 2009

HouseIntro Referral

Referred to the House Committee on Ways and Means.

January 13, 2009

Floor Debate

1 member

What members said about H.R. 473 on the floor

1 Democrat
Robert C. Byrd
Sen. Robert C. ByrdD-WV · Jul 30, 2009

Mr. President, I draw the attention of the Senate to a bill I recently introduced, S. 1529, the Executive Accountability Act of 2009. This legislation is similar to H.R. 473, introduced in the House…

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Introduced in HouseIssued January 13, 2009

I

111th CONGRESS

1st Session

H. R. 473

IN THE HOUSE OF REPRESENTATIVES

January 13, 2009

Ms. Bordallo (for herself, Mr. Faleomavaega, Mrs. Christensen, Mr. Pierluisi, and Mr. Sablan) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to extend eligibility under the new markets tax credit for community development entities created or organized in American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, and the Virgin Islands.

1.

Eligibility under new markets tax credit for community development entities created or organized in American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, and the Virgin Islands

(a)

In general

Subsection (c) of section 45D of the Internal Revenue Code of 1986 (defining qualified community development entity) is amended by adding at the end the following new paragraph:

(3)

Special rule relating to certain jurisdictions

A corporation or partnership created or organized in, or under the laws of, American Samoa, the Commonwealth of the Northern Mariana Islands, Guam, Puerto Rico, or the Virgin Islands shall be treated as a domestic corporation or partnership for purposes of paragraph (1).

.

(b)

Effective date

The amendment made by subsection (a) shall apply to investments made after the date of the enactment of this Act.