H.R. 7903House118th Congress (2023-2025)In Committee

To amend the Internal Revenue Code of 1986 to allow elective payment of applicable credits to bona fide residents of and entities organized under the laws of Puerto Rico.

AI-Generated Summary

Updated January 20, 2026 at 3:44 PM UTC

The bill changes the Internal Revenue Code so that bona‑fide residents of Puerto Rico and certain Puerto Rico‑organized entities can choose to receive applicable tax credits. It adds public entities, nonprofit organizations, and electric cooperatives from Puerto Rico to the list of eligible recipients. It also relaxes the rule that the property must be located in the United States, allowing property used mainly in a U.S. possession to qualify. The changes apply only to property placed in service after the law takes effect.

Key Provisions

Adds Puerto Rico public entities, nonprofit organizations, and electric cooperatives as eligible for elective payment of applicable tax credits under section 6417(d)(1)(A).
Amends the location requirement so property used predominantly in a U.S. possession can qualify without reference to sections 50(b)(1) and 30C(e)(3).
The amendments apply only to facilities and property placed in service after the enactment date.

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action

HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

April 9, 2024

View full timeline

HouseIntro Referral

Introduced in House

April 9, 2024

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

April 9, 2024

Bill Text

Latest available legislative text

Reading Mode

Raw Text PDF XML

Introduced in HouseIssued April 9, 2024

118th CONGRESS

2d Session

H. R. 7903

IN THE HOUSE OF REPRESENTATIVES

April 9, 2024

Mrs. González-Colón (for herself, Mr. Torres of New York, and Mr. Soto) 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 allow elective payment of applicable credits to bona fide residents of and entities organized under the laws of Puerto Rico.

Availability of elective payment of applicable credits to Puerto Rican residents and entities

(a)

In general

Section 6417(d)(1)(A) of the Internal Revenue Code of 1986 is amended by striking or and the end of clause (v), by striking the period at the end of clause (vi) and inserting , or, and by adding at the end the following new clause:

(vii)

a public entity, nonprofit organization, or electric cooperative organized under the laws of Puerto Rico.

(b)

Exception from requirement that property is located in the United States

Section 6417(d)(2) of such Code is amended by striking and at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting , and, and by adding at the end the following new subparagraph:

(C)

in the case of property which is used predominately in a United States possession, without regard to sections 50(b)(1) and 30C(e)(3).

(c)

Effective date

The amendments made by this section shall apply to facilities and property placed in service after the date of the enactment of this section.