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119th CONGRESS
1st Session |
To amend the Internal Revenue Code of 1986 to increase the percentage limitation on assets of real estate investment trusts which may be held in taxable REIT subsidiaries.
Mr. Tillis (for himself and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to increase the percentage limitation on assets of real estate investment trusts which may be held in taxable REIT subsidiaries.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Increase in percentage limitation on assets of REIT which may be taxable REIT subsidiaries.
(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, 2025.