118th Congress · HOUSE BILLBILL

H.R. 462 — Real Estate Exchange Fairness Act of 2023

“To amend the Internal Revenue Code of 1986 to treat Puerto Rico as part of the United States for purposes of determining whether real property qualifies for treatment as a like-kind exchange.”

Taxation

Introduced Jan 24, 2023

Last action Jan 24, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jan 24, 2023

Step 2

Referred

Jan 24, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill requires Puerto Rico to be treated as part of the United States for the purpose of determining if an exchange of real property qualifies as a like-kind exchange for tax purposes. (Under current law, real property located in the United States and real property located outside of the United States are not property of a like kind.)

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jan 24, 2023

Introduced in House

Jan 24, 2023

Referred to the House Committee on Ways and Means.