2025-2026 Regular Session • US Congress Legislature
HB368: Territorial Tax Parity and Fairness Act
Legislative Summary
To amend the Internal Revenue Code of 1986 to provide that certain bona fide residents of the Virgin Islands who are shareholders of corporations organized under the laws of the Virgin Islands are not treated as United States persons for purposes of determining certain inclusions in gross income with respect to such corporations.
Demographic Impact
Overall analysis of equity impact
60% Positive
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Bill History
1/13/2025
Introduced in House
House of Representatives
1/13/2025
Referred to the House Committee on Ways and Means.
House of Representatives
Status Information
Current Status
Introduced(1/13/2025)
Chamber
House of Representatives
Committee
Ways And Means(House of Representatives)
Sponsors
Democrat: 1
Primary Sponsor
Stacey Plaskett
Democrat