[Congressional Record (Bound Edition), Volume 157 (2011), Part 2]
[Senate]
[Pages 2338-2339]
[From the U.S. Government Publishing Office, www.gpo.gov]




 SENATE RESOLUTION 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

  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:

                               S. Res. 60

       Whereas, on September 14, 1960, President Dwight D. 
     Eisenhower signed into law Public Law 86-779 (74 Stat. 998), 
     which enabled the

[[Page 2339]]

     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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