US HB374 | 2013-2014 | 113th Congress
Status
January 23 2013 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Derek M. Hodge Virgin Islands Improvement Act of 2013 - Amends the Internal Revenue Code to provide for a reduction of taxes on distributions from certain retirement savings plans designated by an individual under the age of 61 as being under investment by the Virgin Islands Investment Program for at least 30 years. Defines "Virgin Islands Investment Program" for purposes of this Act as a fund with managed amounts of $50 billion or less. Imposes a 1.5% annual tax for 10 years, and 1% thereafter, on managed funds to benefit Virgin Island infrastructure development.
Title
Derek M. Hodge Virgin Islands Improvement Act of 2013
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2013-01-23 | House | Referred to the House Committee on Ways and Means. |
Subjects
Caribbean area
Employee benefits and pensions
Financial services and investments
Income tax exclusion
Infrastructure development
Sales and excise taxes
State and local finance
Taxation
Virgin Islands
Employee benefits and pensions
Financial services and investments
Income tax exclusion
Infrastructure development
Sales and excise taxes
State and local finance
Taxation
Virgin Islands
US Congress State Sources
| Type | Source |
|---|---|
| Summary | http://thomas.loc.gov/cgi-bin/bdquery/z?d113:HN00374:@@@L&summ2=m& |
| Text | http://gpo.gov/fdsys/pkg/BILLS-113hr374ih/pdf/BILLS-113hr374ih.pdf |
