Recognizing the 50th anniversary of the passage of legislation that created real estate investment trusts (REITs) and gave millions of Americans new investment opportunities that helped them build a solid foundation for retirement security and has contributed to the overall strength of our economy.

(This measure has not been amended since it was introduced. The summary of that version is repeated here.)

Recognizes the 50th anniversary of the passage of the legislation that created real estate investment trusts (REITs) and the enhanced opportunities for investment and retirement security that have been afforded to Americans as a result of this landmark legislation.

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 1595 Introduced in House (IH)]

111th CONGRESS
  2d Session
H. RES. 1595

  Recognizing the 50th anniversary of the passage of legislation that 
  created real estate investment trusts (REITs) and gave millions of 
 Americans new investment opportunities that helped them build a solid 
 foundation for retirement security and has contributed to the overall 
                        strength of our economy.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 30, 2010

 Mr. Levin (for himself, Mr. Camp, Mr. Stark, Mr. Herger, Mr. Lewis of 
Georgia, Mr. Sam Johnson of Texas, Mr. Neal of Massachusetts, Mr. Brady 
    of Texas, Mr. Tanner, Mr. Cantor, Mr. Pomeroy, Mr. Linder, Mr. 
Blumenauer, Mr. Tiberi, Mr. Kind, Mr. Davis of Kentucky, Mr. Pascrell, 
 Mr. Reichert, Ms. Berkley, Mr. Boustany, Mr. Crowley, Mr. Heller, Mr. 
 Van Hollen, Mr. Roskam, Ms. Schwartz, Mr. Davis of Illinois, and Ms. 
  Linda T. Sanchez of California) submitted the following resolution; 
         which was referred to the Committee on Ways and Means

_______________________________________________________________________

                               RESOLUTION


 
  Recognizing the 50th anniversary of the passage of legislation that 
  created real estate investment trusts (REITs) and gave millions of 
 Americans new investment opportunities that helped them build a solid 
 foundation for retirement security and has contributed to the overall 
                        strength of our economy.

Whereas, on September 14, 1960, President Dwight D. Eisenhower signed into law 
        tax legislation enabling real estate investment trusts (hereinafter 
        referred to as ``REITs'') to be established throughout the United States 
        under regulations set by the Federal Government;
Whereas the passage of this legislation enabled REITs to provide all investors 
        with the same opportunity to invest in large-scale commercial real 
        estate that previously was open only to large financial institutions and 
        wealthy individuals through direct investment in such real estate;
Whereas REITs have placed within the reach of the average American investor 
        large-scale commercial real estate investment through publicly traded, 
        regulated securities, which provide investors with transparency and 
        liquidity;
Whereas REITs, by expanding the opportunity to invest in commercial real estate, 
        a separate and distinct asset class important to the creation of 
        balanced investment portfolios, have enabled millions of Americans to 
        gain the benefits of dividend-based income, portfolio diversification 
        and improved overall investment performance;
Whereas REITs have helped millions of Americans successfully invest for their 
        retirement security over the past half-century; and
Whereas September 14, 2010, will mark the 50th anniversary of the legislation 
        that created this REIT investment opportunity: Now, therefore, be it
    Resolved, That the United States House of Representatives 
recognizes the 50th anniversary of the passage of the legislation that 
created real estate investment trusts (REITs) and the enhanced 
opportunities for investment and retirement security that have been 
afforded to Americans from all walks of life as a result of this 
landmark legislation.
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