H.R. 5746 · 112th Congress
Update and Streamline REIT Act of 2012
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Never voted on. It didn't reach a floor vote before the 112th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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TiberiSponsor37 cosponsors · 17 D, 20 R
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Blumenauer
JC
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Crowley
JG
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Gerlach
SJ
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Johnson
LJ
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Jenkins
RK
D
Kind
JL
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Lewis
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Neal
DN
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Nunes
EP
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Paulsen
CR
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Rangel
DR
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Reichert
PR
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Roskam
PS
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Stark
AS
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Schock
JM
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McDermott
KM
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Marchant
TR
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Reed
AS
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Smith
CB
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Boustany
DD
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Davis
CV
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Van Hollen
KB
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Brady
WH
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Herger
BP
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Pascrell
MT
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Thompson
LD
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Doggett
GD
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Davis
TP
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Price
JL
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Larson
PS
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Sessions
AS
D
Schwartz
XB
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Becerra
GM
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Miller
LS
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Sánchez
DB
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Black
VB
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Buchanan15 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Update and Streamline REIT Act of 2012 or US REIT Act of 2012 - Amends the Internal Revenue Code, with respect to the tax treatment of real estate investment trusts (REITs), to: (1) modify safe harbor rules for avoiding penalties for prohibited sales of rental and timber properties by REITs by allowing three-year averaging of sales proceeds for such…
What it does: CRS summary · Introduced in House · May 15, 2012
Update and Streamline REIT Act of 2012 or US REIT Act of 2012 - Amends the Internal Revenue Code, with respect to the tax treatment of real estate investment trusts (REITs), to: (1) modify safe harbor rules for avoiding penalties for prohibited sales of rental and timber properties by REITs by allowing three-year averaging of sales proceeds for such properties, (2) repeal the preferential dividend rule for dividend payments to shareholders of publicly-offered REITs, (3) revise REIT income and assets tests to allow treatment of publicly-offered REIT debt instruments and personal property leased or mortgaged in connection with REIT real property as real estate assets, (4) make permanent the treatment of gain from sales of timber property and mineral royalties as qualifying REIT income, and (5) revise the calculation of REIT earnings and profits to avoid duplicate taxation of REIT shareholders.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Update and Streamline REIT Act of 2012
Also known as: US REIT Act of 2012
Latest action (May 16, 2012): Sponsor introductory remarks on measure. (CR E820)
Policy area: Taxation · Origin: House · Introduced: May 15, 2012
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.