To require the Secretary of the Treasury to prepare a report on the current Federal program costs, and Federal revenues, attributable to the Commonwealth of Puerto Rico and on other matters relating to the taxation of residents of the Commonwealth of Puerto Rico.

Directs the Secretary of the Treasury to prepare a report on the current Federal program costs and Federal revenues attributable to the Commonwealth of Puerto Rico, including (among other matters) possible alternative forms of Federal taxation in the Commonwealth of Puerto Rico which will result in revenues equal to or exceeding the annual costs of the Federal Government in the Commonwealth of Puerto Rico.