Income Tax Rebate on Certain Income; Definitions

A rebate of seventy-five percent (75%) of personal income tax payable by resident individual taxpayers to the government of Guam on earned income derived from sources outside of Guam, the United States, its states, territories or possessions is hereby established and declared. The term possessions includes the Trust Territory of the Pacific Islands and the Commonwealth of the Northern Marianas. The term resident individual taxpayer means a U.S. citizen who resides in Guam within the meaning of §935 of the Internal Revenue Code of 1954, as amended. Such rebate shall be increased to one hundred percent (100%) in the event of a final determination by competent authority of the United States Internal Revenue Service or a court of competent jurisdiction that such taxpayer resides in the United States within the meaning of said