H.R. 3968

To amend the Internal Revenue Code of 1986 to extend the deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.

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I

113th CONGRESS

2d Session

H. R. 3968

IN THE HOUSE OF REPRESENTATIVES

January 29, 2014

Mr. Pierluisi (for himself and Mr. Grayson) 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 the deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.

1.

Extension of deduction allowable with respect to income attributable to domestic production activities in Puerto Rico

(a)

In general

Section 199(d)(8)(C) of the Internal Revenue Code of 1986 is amended—

(1)

by striking first 8 taxable years and inserting first 10 taxable years, and

(2)

by striking January 1, 2014 and inserting January 1, 2016.

(b)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2013.