S. 4030 · 109th Congress
REIT Investment Diversification and Empowerment Act of 2006
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HatchSponsorNo cosponsors.
REIT Investment Diversification and Empowerment Act of 2006 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be…
What it does: CRS summary · Introduced in Senate · Sep 29, 2006
REIT Investment Diversification and Empowerment Act of 2006 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: REIT Investment Diversification and Empowerment Act of 2006
Latest action (Sep 29, 2006): Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S10734-10735)
Policy area: Taxation · Origin: Senate · Introduced: Sep 29, 2006
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.