I 
115TH CONGRESS 
1ST SESSION H. R. 4531 
To amend the Internal Revenue Code of 1986 to treat rents received by 
a real estate investment trust from a parking facility leased to a taxable 
REIT subsidiary in the same manner as rents from lodging and health 
care facilities leased to such a subsidiary. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 4, 2017 
Mr. POE of Texas introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to treat rents 
received by a real estate investment trust from a parking 
facility leased to a taxable REIT subsidiary in the same 
manner as rents from lodging and health care facilities 
leased to such a subsidiary. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘REIT Parity Act’’. 
VerDate Sep 11 2014 
04:24 Dec 08, 2017
Jkt 079200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H4531.IH
H4531
SSpencer on DSKBBXCHB2PROD with BILLS
SEC. 2. APPLICATION OF THE LODGING AND HEALTH CARE 
REIT RULES TO PARKING REITS. 
(a) INCLUSION OF PARKING REITs TO EXCEPTION 
FOR CERTAIN LODGING FACILITIES AND HEALTH CARE 
PROPERTY.—Section 856(d)(8)(B) of the Internal Rev-
enue Code of 1986 is amended— 
(1) striking ‘‘paragraph (9)(D)) or’’ and insert-
ing ‘‘paragraph (9)(D)), a qualified parking facility 
(as defined in paragraph (9)(E)), or’’; 
(2) by striking ‘‘or qualified lodging facility’’ 
and inserting ‘‘, qualified lodging facility, or quali-
fied parking facility’’; and 
(3) by striking ‘‘LODGING FACILITIES AND’’ and 
inserting ‘‘LODGING
FACILITIES, PARKING
FACILI-
TIES, AND’’. 
(b) AMENDMENT
TO
DEFINITION
OF
ELIGIBLE 
INDEPENDENT CONTRACTOR.—Section 856(d)(9) of such 
Code is amended— 
(1) by striking ‘‘qualified lodging facility or’’ 
each place it appears and inserting ‘‘qualified lodg-
ing facility, qualified parking facility, or’’; and 
(2) by striking ‘‘qualified lodging facilities or’’ 
in subparagraph (A) and inserting ‘‘qualified lodging 
facilities, qualified parking facilities, or’’. 
(c) ADDITION OF DEFINITION OF QUALIFIED PARK-
ING FACILITY.—Section 856(d)(9) of such Code is amend-
VerDate Sep 11 2014 
01:40 Dec 09, 2017
Jkt 079200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H4531.IH
H4531
SSpencer on DSKBBXCHB2PROD with BILLS
ed by redesignating subparagraphs (E) and (F) as sub-
paragraphs (F) and (G), respectively, and by inserting 
after subparagraph (D) the following new subparagraph: 
‘‘(E) QUALIFIED PARKING FACILITY.—For 
purposes of this paragraph— 
‘‘(i) IN GENERAL.—The term ‘quali-
fied parking facility’ means any real prop-
erty (including interests therein), and any 
personal property incident to such real 
property, which is a parking facility. 
‘‘(ii) PARKING
FACILITY.—The term 
‘parking facility’ means any facility at 
which motor vehicles are parked for terms 
of less than 1 calendar month in exchange 
for a fee (including customary amenities 
and facilities operated as part of, or associ-
ated with, any such facility so long as such 
amenities and facilities are customary for 
other properties of a comparable size and 
class owned by other owners unrelated to 
such real estate investment trust).’’. 
(d) AMENDMENT TO EXCEPTIONS FROM TAXABLE 
REIT SUBSIDIARIES.—Section 856(l)(3) of such Code is 
amended— 
VerDate Sep 11 2014 
04:24 Dec 08, 2017
Jkt 079200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H4531.IH
H4531
SSpencer on DSKBBXCHB2PROD with BILLS
(1) in subparagraph (A), by striking ‘‘a lodging 
facility or’’ and inserting ‘‘a lodging facility, a park-
ing facility used predominantly to generate fees from 
the parking of motor vehicles for terms of less than 
1 calendar month, or’’; 
(2) in subparagraph (B), by striking ‘‘any lodg-
ing facility or’’ and inserting ‘‘any lodging facility, 
parking facility used predominantly to generate fees 
from the parking of motor vehicles for terms of less 
than 1 calendar month, or’’; and 
(3) in the second sentence— 
(A) by striking ‘‘a lodging facility or’’ and 
inserting ‘‘a lodging facility, a parking facility, 
or’’; and 
(B) by striking ‘‘such lodging facility or’’ 
in the second sentence and inserting ‘‘such 
lodging facility, parking facility, or’’. 
(e) ADDITION OF DEFINITION OF PARKING FACIL-
ITY.—Section 856(l)(4) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new 
subparagraph: 
‘‘(C) PARKING FACILITY.—The term ‘park-
ing facility’ has the meaning given to such term 
by subsection (d)(9)(E)(ii).’’. 
VerDate Sep 11 2014 
04:24 Dec 08, 2017
Jkt 079200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6201
E:\BILLS\H4531.IH
H4531
SSpencer on DSKBBXCHB2PROD with BILLS
(f) EFFECTIVE DATE.—The amendments made by 
this section shall apply to taxable years beginning after 
the date of the enactment of this Act. 
Æ 
VerDate Sep 11 2014 
04:24 Dec 08, 2017
Jkt 079200
PO 00000
Frm 00005
Fmt 6652
Sfmt 6301
E:\BILLS\H4531.IH
H4531
SSpencer on DSKBBXCHB2PROD with BILLS