[Congressional Record Volume 156, Number 125 (Thursday, September 16, 2010)]
[Extensions of Remarks]
[Page E1664]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 RECOGNIZING ANNIVERSARY OF LAW CREATING REAL ESTATE INVESTMENT TRUSTS 
                                (REITS)

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                               speech of

                         HON. CHRIS VAN HOLLEN

                              of maryland

                    in the house of representatives

                     Wednesday, September 15, 2010

  Mr. VAN HOLLEN. Mr. Speaker, as an original cosponsor of H. Res. 
1595, I join Chairman Levin and my colleagues from both sides of the 
aisle in recognizing the 50th Anniversary of the passage of the Real 
Estate Investment Trust Act of 1960, which authorized the creation of 
real estate investment trusts, REITS.
  Prior to September 14, 1960, investment in commercial real estate was 
largely reserved to big financial institutions and wealthy individuals. 
But thanks to the Real Estate Investment Trust Act, average American 
investors for the first time gained access to this distinct asset 
class. Over the past fifty years, REITS have helped Americans diversify 
their investment portfolios, earn dividend-based income, and enhance 
overall investment returns.
  For REITS' contribution to capital formation in the real estate 
sector and retirement security for millions of Americans, it is fitting 
that we take a moment to recognize the 50th Anniversary of the landmark 
legislation that created them today.

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