I
119THCONGRESS
1
STSESSION H. R. 2198
To amend the Internal Revenue Code of 1986 to restore the taxable REIT
subsidiary asset test.
IN THE HOUSE OF REPRESENTATIVES
MARCH18, 2025
Mr. K
ELLYof Pennsylvania (for himself, Mr. SCHNEIDER, Mr. FEENSTRA,
Mr. P
ANETTA, Mr. LAHOOD, Ms. MOOREof Wisconsin, Mr. MOOREof
Utah, Mr. D
AVISof Illinois, Ms. TENNEY, Ms. DELBENE, Mr.
F
ITZPATRICK, Mr. SUOZZI, Mr. BUCHANAN, Mr. MURPHY, Mr. SMITHof
Nebraska, and Mr. E
STES) introduced the following bill; which was re-
ferred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to restore
the taxable REIT subsidiary asset test.
Be it enacted by the Senate and House of Representa-1
tives of the United States of America in Congress assembled, 2
SECTION 1. RESTORATION OF TAXABLE REIT SUBSIDIARY 3
ASSET TEST. 4
(a) I
NGENERAL.—Section 856(c)(4)(B)(ii) of the In-5
ternal Revenue Code of 1986 is amended by striking ‘‘20 6
percent’’ and inserting ‘‘25 percent’’. 7
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•HR 2198 IH
(b) EFFECTIVEDATE.—The amendment made by 1
this section shall apply to taxable years beginning after 2
December 31, 2025. 3
Æ
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