I
119th CONGRESS
1st Session
H. R. 367
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 source rules for personal property sales in possessions of the United States.
Section 1. Short title
This Act may be cited as the Territorial Tax Parity and Clarification Act
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Sec. 2. Modification of source rules for personal property sales in possessions
(a) In general
Section 865(j)(3) of the Internal Revenue Code of 1986 is amended by inserting , 932,
after 931
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(b) Effective date
The amendments made by this section shall apply to taxable years beginning after December 31, 2023.