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H.R. 365

U.S. House•In House Committee

Summary

H.R. 365, the Territorial Tax Parity Act of 2025, was introduced in the House on Jan 13, 2025 by Rep. Stacey Plaskett (D). It was referred to Ways And Means, and last saw action on Jan 13, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 365 has no co-sponsors and has not gone to a roll call.

hb365/introduced-in-house.txt
119 HR 365 IH: Territorial Tax Parity Act of 2025
 U.S. House of Representatives
 2025-01-13
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 365  IN THE HOUSE OF REPRESENTATIVES   January 13, 2025   Ms. Plaskett  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 modify the residence and source rules to provide for economic recovery in the possessions of the United States.
1.
Short title
This Act may be cited as the   Territorial Tax Parity Act of 2025  .
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, 2024.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-01-13
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Jan 13, 2025

hb365/introduced-in-house.md

Shown Here:
Introduced in House (01/13/2025)

Territorial Tax Equity Parity Act of 2025

This bill modifies the income sourcing rules related to taxation of income from U.S. territories.

Under the bill, income is U.S.-sourced income or effectively connected to a U.S. trade or business only if attributable to an office or fixed place of business in the United States. (Currently, income is sourced to a U.S. territory and, thus, may be excluded from the gross income of a bona fide resident of a U.S. territory in calculating U.S. federal income tax if it is not U.S.-sourced income or effectively connected with a U.S. trade or business.)

Further, the bill authorizes the Internal Revenue Service (IRS) to limit the income tax payment to the Virgin Islands required to treat income from the sale of certain personal property as foreign-sourced income for federal tax purposes. (Currently, income from certain personal property sales from a fixed place of business in a U.S. territory by a U.S. resident may be U.S.-sourced income unless an income tax of at least 10% is paid to the U.S. territory. The Internal Revenue Service (IRS) may limit the 10% tax payment requirement related to income from personal property sales in Guam, American Samoa, the Northern Mariana Islands, and Puerto Rico.)

Sponsors

Rep. Stacey Plaskett (D) sponsors H.R. 365 alone.

Stacey Plaskett

Rep. · D–VI · Sponsor

Committees

H.R. 365 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Jan 13, 2025 · 1,160 Bills

Actions

H.R. 365 has taken 2 actions since Jan 13, 2025.

ChamberAction
Jan 13, 2025
House
Introduced in House
Jan 13, 2025
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 365 has not gone to a roll call.

Titles

H.R. 365 goes by 3 titles, 1 of them short titles.

  • Territorial Tax Parity Act of 2025 — Display Title
  • Territorial Tax Parity Act of 2025 — Short Title(s) as Introduced
  • To amend the Internal Revenue Code of 1986 to modify the residence and source rules to provide for economic recovery in the possessions of the United States. — Official Title as Introduced

Lobbying

1 client hired 1 firm and 2 registered lobbyists who named H.R. 365 in 6 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Health Issues.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
NEBRASKA HOSPITAL ASSOCIATION—Nebraska16—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
NEBRASKA HOSPITAL ASSOCIATION16—

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
ANDY HALE116
MEGHAN CHAFFEE116

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
NEBRASKA HOSPITAL ASSOCIATIONNEBRASKA HOSPITAL ASSOCIATION2026 second_quarter—2nd Quarter - Report
NEBRASKA HOSPITAL ASSOCIATIONNEBRASKA HOSPITAL ASSOCIATION2026 first_quarter—1st Quarter - Report
NEBRASKA HOSPITAL ASSOCIATIONNEBRASKA HOSPITAL ASSOCIATION2025 fourth_quarter—4th Quarter - Report
NEBRASKA HOSPITAL ASSOCIATIONNEBRASKA HOSPITAL ASSOCIATION2025 third_quarter—3rd Quarter - Report
NEBRASKA HOSPITAL ASSOCIATIONNEBRASKA HOSPITAL ASSOCIATION2025 second_quarter—2nd Quarter - Report
NEBRASKA HOSPITAL ASSOCIATIONNEBRASKA HOSPITAL ASSOCIATION2025 first_quarter—1st Quarter - Report

Classification

The Congressional Research Service files H.R. 365 under Taxation, one of its 31 policy areas, and gives it 9 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 365’s is Taxation.

hr365/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 365 carries 9 of CRS’s legislative subjects, from American Samoa to Virgin Islands.

hr365/subjects.txt
American SamoaCaribbean areaGuamNorthern Mariana IslandsPuerto RicoTax administration and collection, taxpayersTaxation of foreign incomeU.S. territories and protectoratesVirgin Islands

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 365, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 6 (Monday, January 13, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. PLASKETT:H.R. 365.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the Constitution.[Page H112]

Source: congress.gov · legiscan.com