| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | II | |
| 2 | 2 | 119THCONGRESS | |
| 3 | 3 | 1 | |
| 4 | 4 | STSESSION S. 1334 | |
| 5 | 5 | To amend the Internal Revenue Code of 1986 to increase the percentage | |
| 6 | 6 | limitation on assets of real estate investment trusts which may be held | |
| 7 | 7 | in taxable REIT subsidiaries. | |
| 8 | 8 | IN THE SENATE OF THE UNITED STATES | |
| 9 | 9 | APRIL8, 2025 | |
| 10 | 10 | Mr. T | |
| 11 | 11 | ILLIS(for himself and Mr. WARNOCK) introduced the following bill; | |
| 12 | 12 | which was read twice and referred to the Committee on Finance | |
| 13 | 13 | A BILL | |
| 14 | 14 | To amend the Internal Revenue Code of 1986 to increase | |
| 15 | 15 | the percentage limitation on assets of real estate invest- | |
| 16 | 16 | ment trusts which may be held in taxable REIT subsidi- | |
| 17 | 17 | aries. | |
| 18 | 18 | Be it enacted by the Senate and House of Representa-1 | |
| 19 | 19 | tives of the United States of America in Congress assembled, 2 | |
| 20 | 20 | SECTION 1. INCREASE IN PERCENTAGE LIMITATION ON AS-3 | |
| 21 | 21 | SETS OF REIT WHICH MAY BE TAXABLE REIT 4 | |
| 22 | 22 | SUBSIDIARIES. 5 | |
| 23 | 23 | (a) I | |
| 24 | 24 | NGENERAL.—Section 856(c)(4)(B)(ii) of the In-6 | |
| 25 | 25 | ternal Revenue Code of 1986 is amended by striking ‘‘20 7 | |
| 26 | 26 | percent’’ and inserting ‘‘25 percent’’. 8 | |
| 27 | 27 | VerDate Sep 11 2014 01:49 Apr 18, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1334.IS S1334 | |
| 28 | 28 | DMWilson on DSK7X7S144PROD with BILLS 2 | |
| 29 | 29 | •S 1334 IS | |
| 30 | 30 | (b) EFFECTIVEDATE.—The amendment made by 1 | |
| 31 | 31 | this section shall apply to taxable years beginning after 2 | |
| 32 | 32 | December 31, 2025. 3 | |
| 33 | 33 | Æ | |
| 34 | 34 | VerDate Sep 11 2014 03:16 Apr 17, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1334.IS S1334 | |
| 35 | 35 | DMWilson on DSK7X7S144PROD with BILLS |