I
118THCONGRESS
1
STSESSION H. R. 462
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.
IN THE HOUSE OF REPRESENTATIVES
JANUARY24, 2023
Mrs. G
ONZA´LEZ-COLO´Nintroduced the following bill; which was referred to
the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to treat Puerto
Rico as part of the United States for purposes of deter-
mining whether real property qualifies for treatment as
a like-kind exchange.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Real Estate Exchange 4
Fairness Act of 2023’’. 5
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•HR 462 IH
SEC. 2. PUERTO RICO TREATED AS PART OF UNITED 1
STATES FOR PURPOSES OF LIKE-KIND EX-2
CHANGES. 3
(a) I
NGENERAL.—Section 1031(h) of the Internal 4
Revenue Code of 1986 is amended by adding at the end 5
the following: ‘‘For purposes of the preceding sentence, 6
the term ‘United States’ shall be treated as including 7
Puerto Rico.’’. 8
(b) E
FFECTIVEDATE.—The amendment made by 9
this section shall apply to exchanges completed after the 10
date of the enactment of this Act. 11
Æ
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