H.R. 2982

Summary

H.R. 2982, the Fair Taxation of Digital Assets in Puerto Rico Act of 2025, was introduced in the House on Apr 21, 2025 by Rep. Nydia Velazquez (D) with 2 co-sponsors. It was referred to Ways And Means, and last saw action on Apr 21, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 2982 has 2 co-sponsors.

119 HR 2982 IH: Fair Taxation of Digital Assets in Puerto Rico Act of 2025
 U.S. House of Representatives
 2025-04-21
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 2982  IN THE HOUSE OF REPRESENTATIVES   April 21, 2025   Ms. Velázquez  (for herself,  Ms. Ocasio-Cortez , and  Mrs. Ramirez ) 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 application of the sourcing rules for digital asset income of Puerto Rican residents.
1.
Short title
This Act may be cited as the   Fair Taxation of Digital Assets in Puerto Rico Act of 2025  .
2.
Treatment of digital asset income by Puerto Rican residents
(a)
In general
 Section 865  of the Internal Revenue Code of 1986 is amended by redesignating subsections (i) and (j) as subsections (j) and (k) and by inserting after subsection (h) the following new subsection:
(i)
Digital asset income of Puerto Rican residents
(1)
In general
Notwithstanding any other provision of this title, in the case of an individual described in section 933, any income derived in connection with—
(A)
any receipt of any digital asset in connection with—
(i)
mining, staking, or any similar activity with respect to any digital asset, or
(ii)
holding any digital asset (including any fork or air drop of any digital asset), or
(B)
any sale, exchange, or other disposition of a digital asset,
 shall not be treated for purposes of this title as derived from sources within Puerto Rico.
(2)
Treatment of financial interests
For purposes of this subsection, any financial interest in a digital asset shall be treated as a digital asset.
(3)
Digital asset
For purposes of this subsection, the term  digital asset  means any digital representation of value which is recorded on a cryptographically-secured distributed ledger.
 .
(b)
Effective date
The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

To amend the Internal Revenue Code of 1986 to modify the application of the sourcing rules for digital asset income of Puerto Rican residents.

Sponsors

Rep. Nydia Velazquez (D) sponsors H.R. 2982, and 2 members have co-sponsored it, all of them from the day it was introduced.

Nydia Velazquez

Rep. · D–NY-7 · Sponsor

Introduced Apr 21, 2025

Alexandria Ocasio-Cortez

Rep. · D–NY-14 · Co-sponsor

Joined Apr 21, 2025 · Original

Delia Ramirez

Rep. · D–IL-3 · Co-sponsor

Joined Apr 21, 2025 · Original

Show 3 of 3 rows

PreviousNext

Committees

H.R. 2982 went before 1 committee: Ways and Means.

Ways and Means

Ways and Means

Referred To · Apr 21, 2025 · 1,160 Bills

Actions

H.R. 2982 has taken 2 actions since Apr 21, 2025.

Votes

H.R. 2982 has not gone to a roll call.

Titles

H.R. 2982 goes by 3 titles, 1 of them short titles.

• Fair Taxation of Digital Assets in Puerto Rico Act of 2025 — Display Title
• Fair Taxation of Digital Assets in Puerto Rico Act of 2025 — Short Title(s) as Introduced
• To amend the Internal Revenue Code of 1986 to modify the application of the sourcing rules for digital asset income of Puerto Rican residents. — Official Title as Introduced

Lobbying

1 client hired 1 firm and 2 registered lobbyists who named H.R. 2982 in 2 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Banking, Consumer Issues/Safety/Products, Financial Institutions/Investments/Securities, Government Issues, Housing, Labor Issues/Antitrust/Workplace, Taxation/Internal Revenue Code, Budget/Appropriations.

Clients

Who paid to be heard, by how many filings named the bill.

Firms

Registrants who filed on the bill, by filings.

Lobbyists

Named on the filings that cite the bill.

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

Classification

The Congressional Research Service files H.R. 2982 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 2982’s is Taxation.

Source: congress.gov · legiscan.com