[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1428 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 1428

 To amend the Internal Revenue Code of 1986 to modify the source rules 
   to provide for economic recovery in the possessions of the United 
                                States.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 26, 2021

 Ms. Plaskett introduced the following bill; which was referred to the 
                      Committee on Ways and Means

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                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to modify the source rules 
   to provide for economic recovery in the possessions of the United 
                                States.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Territorial Tax Parity Act of 
2021''.

SEC. 2. MODIFICATION TO SOURCE RULES INVOLVING POSSESSIONS.

    (a) In General.--Section 937(b)(2) of the Internal Revenue Code of 
1986 is amended by inserting ``, but only to the extent such income is 
attributable to an office or fixed place of business within the United 
States (determined under the rules of section 864(c)(5))'' before the 
period at the end.
    (b) Source Rules for Personal Property Sales.--Section 865(j)(3) of 
such Code is amended by inserting ``, 932,'' after ``931''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2020.
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