[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4256 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 4256

  To amend the American Recovery and Reinvestment Tax Act of 2009 to 
allow specified energy property grants to real estate investment trusts 
        without regard to the ratable share income limitations.


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                    IN THE HOUSE OF REPRESENTATIVES

                            December 9, 2009

   Ms. Linda T. Sanchez of California (for herself, Mr. Heller, Ms. 
   Berkley, and Mr. Nunes) introduced the following bill; which was 
  referred to the Committee on Ways and Means, and in addition to the 
   Committee on Energy and Commerce, for a period to be subsequently 
   determined by the Speaker, in each case for consideration of such 
 provisions as fall within the jurisdiction of the committee concerned

_______________________________________________________________________

                                 A BILL


 
  To amend the American Recovery and Reinvestment Tax Act of 2009 to 
allow specified energy property grants to real estate investment trusts 
        without regard to the ratable share income limitations.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Sustainable Property Grants Act of 
2009''.

SEC. 2. ELIMINATION OF REIT RATABLE SHARE LIMITATION FOR ARRA GRANTS 
              WITH RESPECT TO SPECIFIED ENERGY PROPERTY.

    (a) In General.--Subsection (f) of section 1603 of the American 
Recovery and Reinvestment Tax Act of 2009 is amended by inserting after 
``Code of 1986'' the following: ``, except that subsection (d)(1) 
thereof shall not apply in the case of a real estate investment trust 
(as defined in section 856 of such Code)''.
    (b) Effective Date.--The amendment made by this section shall apply 
to grants made after the date of the enactment of this Act.
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