H.R. 1147 · 110th Congress
REIT Investment Diversification and Empowerment Act of 2007
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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CrowleySponsor34 cosponsors · 19 D, 15 R
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Cantor
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Pomeroy
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Reynolds
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Stark
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Davis
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Pascrell
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Porter
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English
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Hinojosa
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Lewis
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Tanner
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Ramstad
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Larson
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Neal
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Camp
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Schwartz
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Hulshof
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Johnson
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Weller
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Blumenauer
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Herger
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McDermott
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Berkley
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Jones
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Tiberi
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Meek
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Nunes
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Lewis
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Brady
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Ryan
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Levin
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Van Hollen
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Doggett
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Carson3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
REIT Investment Diversification and Empowerment Act of 2007 - 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 House · Feb 16, 2007
REIT Investment Diversification and Empowerment Act of 2007 - 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 2007
Latest action (Feb 16, 2007): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Feb 16, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.