I 118th CONGRESS 1st Session H. R. 462 IN THE HOUSE OF REPRESENTATIVES January 24, 2023 Mrs. González-Colón 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 real property qualifies for treatment as a like-kind exchange.

1. Short title This Act may be cited as the Real Estate Exchange Fairness Act of 2023 . 2. Puerto Rico treated as part of United States for purposes 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: For purposes of the preceding sentence, 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.