[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 60 Agreed to Senate (ATS)]

112th CONGRESS
  1st Session
S. RES. 60

 Recognizing the 50th anniversary of the date of enactment of the law 
that created real estate investment trusts (REITs) and gave millions of 
 Americans new investment opportunities that helped them build a solid 
 foundation for retirement and has contributed to the overall strength 
                  of the economy of the United States.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 17, 2011

  Mr. Isakson (for himself, Ms. Mikulski, Mr. Lugar, Ms. Collins, Mr. 
Burr, Mr. Bennet, Mr. Blunt, Mr. Chambliss, Mr. Corker, Mr. Pryor, and 
 Mr. Udall of Colorado) submitted the following resolution; which was 
                        considered and agreed to

_______________________________________________________________________

                               RESOLUTION


 
 Recognizing the 50th anniversary of the date of enactment of the law 
that created real estate investment trusts (REITs) and gave millions of 
 Americans new investment opportunities that helped them build a solid 
 foundation for retirement and has contributed to the overall strength 
                  of the economy of the United States.

Whereas, on September 14, 1960, President Dwight D. Eisenhower signed into law 
        Public Law 86-779 (74 Stat. 998), which enabled the establishment of 
        real estate investment trusts (referred to in this preamble as 
        ``REITs'') throughout the United States under regulations set by the 
        Federal Government;
Whereas the enactment of this law enabled REITs to provide all investors with 
        the same opportunity to invest in large-scale commercial real estate 
        that previously was open only to large financial institutions and 
        wealthy individuals through direct investment in that real estate;
Whereas REITs have placed within the reach of the average American investor 
        large-scale commercial real estate investment through publicly traded, 
        regulated securities, which provide investors with transparency and 
        liquidity;
Whereas REITs, by expanding the opportunity to invest in commercial real estate, 
        a separate and distinct asset class important to the creation of 
        balanced investment portfolios, have enabled millions of Americans to 
        gain the benefits of dividend-based income, portfolio diversification, 
        and improved overall investment performance;
Whereas REITs have helped millions of Americans successfully invest for their 
        retirements throughout the 50 years preceding the date of agreement to 
        this resolution; and
Whereas September 14, 2010, marked the 50th anniversary of the date of enactment 
        of the law that created the REIT investment opportunity: Now, therefore, 
        be it
    Resolved, That the Senate recognizes the 50th anniversary of the 
date of enactment of the law that created real estate investment trusts 
(REITs) and the enhanced opportunities for investment and retirement 
security that have been afforded to Americans from all walks of life as 
a result of this landmark law.
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