Retail Revitalization Act of 2023

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

R LaHoodSponsor

10 cosponsors · 6 D, 4 R

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill amends tax rules for real estate investment trusts (REITs). It increases (1) the share of equity investments a distressed retail tenant may receive from a REIT from 10% to 50%, and (2) the equity share for regular tenants from 10% to 30%.

What it does: CRS summary · Introduced in House · May 30, 2023

Retail Revitalization Act of 2023

The bill also allows taxable REIT subsidiaries to accept equity in a retail tenant's businesses as a form of rent, subject to certain restrictions.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Retail Revitalization Act of 2023

Latest action (May 30, 2023): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: May 30, 2023

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.