To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.

This bill increases from 20% to 25% the value of the total assets represented by securities of one or more taxable Real Estate Investment Trust (REIT) subsidiaries (thus restoring the REIT subsidiary asset test).

[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5275 Introduced in House (IH)]

<DOC>






118th CONGRESS
  1st Session
                                H. R. 5275

To amend the Internal Revenue Code of 1986 to restore the taxable REIT 
                         subsidiary asset test.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            August 25, 2023

  Mr. Kelly of Pennsylvania (for himself and Mr. Higgins of New York) 
 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 restore the taxable REIT 
                         subsidiary asset test.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. RESTORATION OF TAXABLE REIT SUBSIDIARY ASSET TEST.

    (a) In General.--Section 856(c)(4)(B)(ii) of the Internal Revenue 
Code of 1986 is amended by striking ``20 percent'' and inserting ``25 
percent''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2023.
                                 <all>