3.0.0 3749 2024-07-24T15:21:51Z 2024-07-24T15:21:51Z House H HR 2023-05-30 118 [Congressional Record Volume 169, Number 92 (Tuesday, May 30, 2023)][House][Pages H2664-H2665]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. LaHOOD:H.R. 3749.Congress has the power to enact this legislation pursuantto the following:U.S. Constitution Article I, Section 8, Clause 1: ``TheCongress shall have Power to lay and collect Taxes . . .''The single subject of this legislation is:[[Page H2665]]To modify the treatment of certain rents received by realestate investment trusts from related parties.]]> hswm00 Ways and Means Committee House Standing Referred to 2023-05-30T18:00:50Z 2023-05-30 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2023-05-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2023-05-30 Introduced in House IntroReferral 1000 9 Library of Congress L000585 Rep. LaHood, Darin [R-IL-16] Darin LaHood R IL 16 N S001190 Rep. Schneider, Bradley Scott [D-IL-10] Bradley Schneider D IL Scott 10 2023-05-30 True P000613 Rep. Panetta, Jimmy [D-CA-19] Jimmy Panetta D CA 19 2023-05-31 False E000296 Rep. Evans, Dwight [D-PA-3] Dwight Evans D PA 3 2023-05-31 False S001156 Rep. Sánchez, Linda T. [D-CA-38] Linda Sánchez D CA T. 38 2023-05-31 False D000617 Rep. DelBene, Suzan K. [D-WA-1] Suzan DelBene D WA K. 1 2023-06-01 False T000478 Rep. Tenney, Claudia [R-NY-24] Claudia Tenney R NY 24 2023-08-01 False M001205 Rep. Miller, Carol D. [R-WV-1] Carol Miller R WV D. 1 2023-08-01 False P000096 Rep. Pascrell, Bill, Jr. [D-NJ-9] WILLIAM PASCRELL D NJ J. 9 2023-11-06 False M000317 Rep. Malliotakis, Nicole [R-NY-11] Nicole Malliotakis R NY 11 2023-12-06 False W000815 Rep. Wenstrup, Brad R. [R-OH-2] Brad Wenstrup R OH R. 2 2024-01-22 False Taxation Taxation 2023-06-22T15:30:26Z 00 2023-05-30 Introduced in House 2023-11-03T13:39:21Z Retail Revitalization Act of 2023

This bill amends tax rules for real estate investment trusts (REITs). It increases (1) the share of equity investments a distressed retail tenant may receive from a REIT from 10% to 50%, and (2) the equity share for regular tenants from 10% to 30%.

The bill also allows taxable REIT subsidiaries to accept equity in a retail tenant's businesses as a form of rent, subject to certain restrictions.

]]> Retail Revitalization Act of 2023 Display Title 45 Retail Revitalization Act of 2023 2024-07-24T15:21:51Z Short Title(s) as Introduced 101 Retail Revitalization Act of 2023 2024-05-24T13:39:19Z Introduced in House IH Official Title as Introduced 6 To amend the Internal Revenue Code of 1986 to modify the treatment of certain rents received by real estate investment trusts from related parties. 2024-03-18T20:55:13Z Introduced in House IH Introduced in House 2023-05-30T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118hr3749ih/xml/BILLS-118hr3749ih.xml 2023-05-30 Referred to the House Committee on Ways and Means. 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.