,i #aah? ,,congress #a/ ,session ,h4 ,r4 #djbf ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #ab1 #bjbc,mrs4 ,gonzlez-,coln 7= h]self1 ,mr4 ,torres ( ,new ,york1 & ,mr4 ,moylan7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to all[ c]ta9 cr$its & d$uctions to be tak5 z a refundable tax cr$it by ,pu]to ,rico bus9esses or resid5ts1 & to ext5d su* cr$its & d$uctions to possessions ( ! ,unit$ ,/ates4 #a4 ,exp5ditures to provide access to disabl$ individuals 7a7 ,9 g5]al ,section #dd ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subsection 7e7 z subsection 7f7 & by ins]t+ aft] subsection 7d7 ! foll[+ new subsection3 7e7 ,application ( cr$it 9 possessions 7#a7 ,mirror code possessions 7,a7 ,9 g5]al ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em am\nts equal to ! loss 7if any7 to t possession by reason ( ! application ( ?is section 7det]m9$ )\t reg>d to ?is subsection7 ) respect to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 ,su* am\nts %all be det]m9$ by ! ,secret>y bas$ on in=mation provid$ by ! gov]nm5t ( ! respective possession4 7,b7 ,mirror code tax sy/em ,= purposes ( ?is p>agraph1 ! t]m mirror code tax sy/em means1 ) respect to any possession ( ! ,unit$ ,/ates1 ! income tax sy/em ( su* possession if ! income tax liability ( ! resid5ts ( su* possession "u su* sy/em is det]m9$ by ref]5ce to ! income tax laws ( ! ,unit$ ,/ates z if su* possession 7 ! ,unit$ ,/ates4 7#b7 ,cr$it made refundable = resid5ts ( ,pu]to ,rico ,9 ! case ( any taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbb1 if ! taxpay] is a bona fide resid5t ( ,pu]to ,rico 7)9 ! mean+ ( section #icg7;a77 or a corporation or p>tn]%ip organiz$ 9 ,pu]to ,rico or "u ! law ( ,pu]to ,rico = su* taxable ye>1 ! cr$it det]m9$ "u subsection 7a7 %all be all[able to su* resid5t1 corporation1 or p>tn]%ip "u subp>t ,c 7& n all[$ "u ?is subp>t74 7#c7 ,am]ican ,samoa ,! ,secret>y %all pay to ,am]ican ,samoa am\nts e/imat$ by ! ,secret>y z be+ equal to ! aggregate b5efits t w\ld h be5 provid$ to resid5ts ( ,am]ican ,samoa by reason ( ! application ( ?is section = taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb1 if ! provisions ( ?is section _h be5 9 effect 9 ,am]ican ,samoa4 ,! prec$+ s5t5ce %all n apply unless ,am]ican ,samoa has a plan1 :i* has be5 approv$ by ! ,secret>y1 "u :i* su* possession w promptly di/ribute su* paym5ts to its resid5ts4 7#d7 ,coord9ation ) cr$it all[$ aga9/ ,unit$ ,/ates income taxes ,no cr$it %all be all[$ "u ?is section = any taxable ye> to any p]son-- 7,a7 to :om a cr$it is all[able aga9/ taxes impos$ by a possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em by reason ( ! application ( ?is section 9 su* possession = su* taxable ye>1 or 7,b7 :o is eligible = a paym5t "u a plan describ$ 9 p>agraph 7#c74 7#e7 ,treatm5t ( paym5ts ,= purposes ( section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 ! paym5ts "u ?is subsection %all be treat$ 9 ! same mann] z a refund due f cr$it provisions describ$ 9 su* section4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 #b4 ,exp5ditures to remove ar*itectural & transportation b>ri]s to ! h&icapp$ & eld]ly 7a7 ,9 g5]al ,section #aij ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new subsections3 7d7 ,election ,to take d$uction z refundable cr$it = resid5ts ( ,pu]to ,rico ,9 ! case ( a taxpay] 79 ! case ( a jo9t return1 ei!r sp\se7 :o is a bona fide resid5t ( ,pu]to ,rico 7)9 ! mean+ ( section #icg7;a77 or a corporation or p>tn]%ip organiz$ 9 ,pu]to ,rico or "u ! law ( ,pu]to ,rico = ! taxable ye>1 #ba p]c5t ( ! am\nts o!rwise all[$ z a d$uction "u ?is section %all be all[$ z a cr$it "u subp>t ,c4 7e7 ,application ( d$uction 9 possessions 7#a7 ,mirror code possessions 7,a7 ,9 g5]al ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em am\nts equal to ! loss 7if any7 to t possession by reason ( ! application ( ?is section 7det]m9$ )\t reg>d to ?is subsection7 ) respect to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4 ,su* am\nts %all be det]m9$ by ! ,secret>y bas$ on in=mation provid$ by ! gov]nm5t ( ! respective possession4 7,b7 ,mirror code tax sy/em ,= purposes ( ?is p>agraph1 ! t]m mirror code tax sy/em means1 ) respect to any possession ( ! ,unit$ ,/ates1 ! income tax sy/em ( su* possession if ! income tax liability ( ! resid5ts ( su* possession "u su* sy/em is det]m9$ by ref]5ce to ! income tax laws ( ! ,unit$ ,/ates z if su* possession 7 ! ,unit$ ,/ates4 7#b7 ,am]ican ,samoa ,! ,secret>y %all pay to ,am]ican ,samoa am\nts e/imat$ by ! ,secret>y z be+ equal to ! aggregate b5efits t w\ld h be5 provid$ to resid5ts ( ,am]ican ,samoa by reason ( ! application ( ?is section = taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb1 if ! provisions ( ?is section _h be5 9 effect 9 ,am]ican ,samoa4 ,! prec$+ s5t5ce %all n apply unless ,am]ican ,samoa has a plan1 :i* has be5 approv$ by ! ,secret>y1 "u :i* su* possession w promptly di/ribute su* paym5ts to its resid5ts4 7#c7 ,coord9ation ) cr$it all[$ aga9/ ,unit$ ,/ates income taxes ,no d$uction %all be all[$ "u ?is section = any taxable ye> to any p]son-- 7,a7 to :om a cr$it is all[able aga9/ taxes impos$ by a possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em by reason ( ! application ( ?is section 9 su* possession = su* taxable ye>1 or 7,b7 :o is eligible = a paym5t "u a plan describ$ 9 p>agraph 7#b74 7#d7 ,treatm5t ( paym5ts ,= purposes ( section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 ! paym5ts "u ?is subsection %all be treat$ 9 ! same mann] z a refund due f cr$it provisions describ$ 9 su* section4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbb4