| 1 | 1 | | I |
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| 2 | 2 | | 118THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION H. R. 462 |
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| 5 | 5 | | To amend the Internal Revenue Code of 1986 to treat Puerto Rico as |
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| 6 | 6 | | part of the United States for purposes of determining whether real |
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| 7 | 7 | | property qualifies for treatment as a like-kind exchange. |
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| 8 | 8 | | IN THE HOUSE OF REPRESENTATIVES |
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| 9 | 9 | | JANUARY24, 2023 |
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| 10 | 10 | | Mrs. G |
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| 11 | 11 | | ONZA´LEZ-COLO´Nintroduced the following bill; which was referred to |
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| 12 | 12 | | the Committee on Ways and Means |
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| 13 | 13 | | A BILL |
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| 14 | 14 | | To amend the Internal Revenue Code of 1986 to treat Puerto |
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| 15 | 15 | | Rico as part of the United States for purposes of deter- |
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| 16 | 16 | | mining whether real property qualifies for treatment as |
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| 17 | 17 | | a like-kind exchange. |
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| 18 | 18 | | Be it enacted by the Senate and House of Representa-1 |
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| 19 | 19 | | tives of the United States of America in Congress assembled, 2 |
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| 20 | 20 | | SECTION 1. SHORT TITLE. 3 |
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| 21 | 21 | | This Act may be cited as the ‘‘Real Estate Exchange 4 |
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| 22 | 22 | | Fairness Act of 2023’’. 5 |
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| 23 | 23 | | VerDate Sep 11 2014 21:49 Feb 02, 2023 Jkt 039200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\H462.IH H462 |
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| 24 | 24 | | pbinns on DSKJLVW7X2PROD with $$_JOB 2 |
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| 25 | 25 | | •HR 462 IH |
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| 26 | 26 | | SEC. 2. PUERTO RICO TREATED AS PART OF UNITED 1 |
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| 27 | 27 | | STATES FOR PURPOSES OF LIKE-KIND EX-2 |
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| 28 | 28 | | CHANGES. 3 |
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| 29 | 29 | | (a) I |
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| 30 | 30 | | NGENERAL.—Section 1031(h) of the Internal 4 |
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| 31 | 31 | | Revenue Code of 1986 is amended by adding at the end 5 |
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| 32 | 32 | | the following: ‘‘For purposes of the preceding sentence, 6 |
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| 33 | 33 | | the term ‘United States’ shall be treated as including 7 |
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| 34 | 34 | | Puerto Rico.’’. 8 |
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| 35 | 35 | | (b) E |
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| 36 | 36 | | FFECTIVEDATE.—The amendment made by 9 |
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| 37 | 37 | | this section shall apply to exchanges completed after the 10 |
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| 38 | 38 | | date of the enactment of this Act. 11 |
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| 39 | 39 | | Æ |
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| 40 | 40 | | VerDate Sep 11 2014 21:49 Feb 02, 2023 Jkt 039200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\H462.IH H462 |
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| 41 | 41 | | pbinns on DSKJLVW7X2PROD with $$_JOB |
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