I 115th CONGRESS 2d Session H. R. 5430 IN THE HOUSE OF REPRESENTATIVES April 5, 2018 Miss González-Colón of Puerto Rico (for herself and Mr. Soto ) 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 treat Puerto Rico as part of the United States for purposes of determining whether property qualifies for treatment as a like-kind exchange.

1. Short title This Act may be cited as the Puerto Rico Real Estate Exchange Fairness Act of 2018 . 2. Puerto Rico treated as part of United States for purposes of determination of like-kind exchanges (a) In general Section 1031(h) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) United States For purposes of this subsection, the term United States shall be treated as including Puerto Rico. . (b) Effective date The amendment made by this section shall apply to exchanges completed after the date of the enactment of this Act.