118 HR 5275 IH: To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test. U.S. House of Representatives 2023-08-25 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I118th CONGRESS1st SessionH. R. 5275IN THE HOUSE OF REPRESENTATIVESAugust 25, 2023Mr. Kelly of Pennsylvania (for himself and Mr. Higgins of New York) introduced the following bill; which was referred to the Committee on Ways and MeansA BILLTo amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.

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.