3.0.0 915 2021-07-10T19:56:53Z 2022-11-04T13:28:11Z Senate S 2015-04-14 114 ssfi00 Finance Committee Senate Standing Reported original measure 2015-04-14T15:18:13Z S. Rept. 114-25 Real Estate Investment and Jobs Act of 2015 114 2128 HR 2015-04-30 Referred to the House Committee on Ways and Means. Related bill CRS 2015-04-14 Senate Placed on Senate Legislative Calendar under General Orders. Calendar No. 48. Calendars 2015-04-14 ssfi00 Finance Committee Senate Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-25. Committee 2015-04-14 Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-25. Committee 14000 9 Library of Congress ssfi00 Finance Committee 2015-04-14 Introduced in Senate IntroReferral 10000 9 Library of Congress H000338 Sen. Hatch, Orrin G. [R-UT] ORRIN HATCH R UT GRANT N Taxation Capital gains tax Corporate finance and management Debt collection Financial services and investments Foreign and international corporations Income tax deductions Interest, dividends, interest rates Medicare Real estate business Securities Tax administration and collection, taxpayers Taxation 00 2015-04-14 Introduced in Senate 2015-06-30T15:53:41Z Real Estate Investment and Jobs Act of 2015

This bill amends the Internal Revenue Code, with respect to the taxation of stock interests of foreign investors, to: (1) increase from 5% to 10% the stock ownership threshold in a real estate investment trust (REIT) for exempting such stock from treatment as a U.S. real property interest on disposition, (2) increase from from 10% to 15% the rate of withholding of tax on dispositions of U.S. real property interests, (3) require a corporation to notify the Department of the Treasury of its status as a U.S. real property holding corporation and to disclose such status on payee statements, (4) impose a penalty on a corporation for failing to make such disclosure, (5) require brokers who sell stock of a U.S. real property holding corporation to a foreign person to withhold 15% of the amount realized on the sale, and (6) deny dividends derived from regulated investment companies and REITs the tax deduction for the U.S.-sourced portion of such dividends received from a foreign-owned corporation.

The bill also increases from 30% to 35% the rate of the continuous levy on payments to Medicare providers and suppliers for unpaid taxes.

]]> 80 2015-04-14 Reported to Senate without amendment 2015-06-29T14:56:55Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Real Estate Investment and Jobs Act of 2015

(Sec. 2) This section increases from 5% to 10% the stock ownership threshold in a real estate investment trust (REIT) for exempting such stock as a U.S. real property interest on disposition.

(Sec. 3) This section provides for an increase from 10% to 15% of the rate of withholding of tax on dispositions of U.S. real property interests.

(Sec. 4) This section requires any corporation that is a U.S. real property holding company during a specified period to disclose such status to the Internal Revenue Service, the corporation's shareholders, and the public. The corporation is subject to penalties for failure to make such a disclosure.

(Sec. 5) This section requires a broker to deduct and withhold a tax equal to 15% of the amount realized on the disposition of stock of a U.S. real property holding company by a foreign person.

(Sec. 6) This provision exempts regulated investment companies (RICs) and REITs from tax rules governing the treatment of stock of a domestic corporation as a U.S. real property holding company.

(Sec. 7) This section provides that neither RICs nor REITs shall not be treated as domestic corporations for purposes of determining whether dividends from a foreign corporation are eligible for the tax deduction for the U.S-sourced portion of such dividends.

(Sec. 8) This section increases from 30% to 35% the rate of the continuous levy on payments made after 180 days after the enactment of this Act to Medicare providers and suppliers for unpaid taxes.

]]> Real Estate Investment and Jobs Act of 2015 Short Titles as Introduced Real Estate Investment and Jobs Act of 2015 Short Titles as Reported to Senate Real Estate Investment and Jobs Act of 2015 S Senate Display Title Real Estate Investment and Jobs Act of 2015 Official Title as Introduced An original bill to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes. Placed on Calendar Senate 2015-04-14T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s915pcs/xml/BILLS-114s915pcs.xml 2015-04-14 Placed on Senate Legislative Calendar under General Orders. Calendar No. 48. 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. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.