HB5275: To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.
Plain-language summary
This bill would amend the tax code to restore a rule limiting how much money a taxable REIT subsidiary (a company owned by a real estate investment trust) can hold in assets. A REIT is a company that owns income-producing real estate and passes profits to investors. The bill would reinstate an asset test that was previously removed, which sets a cap on the value of assets these subsidiaries can hold. The bill has been introduced in Congress but has not yet been assigned to a for review.
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HB5275: To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidia…
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Sponsors
Mike Kelly
Primary SponsorCo-sponsors (33)
Brian Higgins
Claudia Tenney
Jimmy Panetta
Greg Murphy
Carol Miller