H.R. 399 explained · 119th Congress · Pending in Congress
To permanently extend the American Samoa economic development tax credit.
Cosponsors: none · per Congress.gov, 2026-10-12
Introduced: 2025-01-14
Latest action (2025-01-14): Referred to the House Committee on Ways and Means.
What H.R. 399 does, in plain terms
This bill permanently extends the American Samoa economic development tax credit, effective for tax years beginning after December 31, 2021. Under current law, certain qualified domestic corporations may be entitled to a tax credit for a percentage of qualified American Samoa wages, allocable employee fringe benefits, and depreciation allowances related to qualified American Samoa tangible property. However, under current law, the tax credit is only available for such corporations for tax years beginning on or before December 31, 2021.
Official summary by the Congressional Research Service, via Congress.gov.
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