To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.

Bill: 119-hr-2198
Sponsor: full_name: Rep. Kelly, Mike [R-PA-16]
Introduced: 2025-03-18
Policy area: Taxation
Latest action: action_date: 2025-03-18
text: Referred to the House Committee on Ways and Means.

Summaries:

tv_txt: I 119th CONGRESS 1st Session H. R. 2198 IN THE HOUSE OF REPRESENTATIVES March 18, 2025 Mr. Kelly of Pennsylvania (for himself, Mr. Schneider , Mr. Feenstra , Mr. Panetta , Mr. LaHood , Ms. Moore of Wisconsin , Mr. Moore of Utah , Mr. Davis of Illinois , Ms. Tenney , Ms. DelBene , Mr. Fitzpatrick , Mr. Suozzi , Mr. Buchanan , Mr. Murphy , Mr. Smith of Nebraska , and Mr. Estes ) 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 restore the taxable REIT subsidiary asset test.

1. Restoration of taxable REIT subsidiary asset test (a) In general Section 856(c)(4)(B)(ii) of the Internal Revenue Code of 1986 is amended by striking 20 percent and inserting 25 percent . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2025.