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HR 1147 110th Congress House

REIT Investment Diversification and Empowerment Act of 2007

Official title: To amend the Internal Revenue Code of 1986 to simplify certain provisions applicable to real estate investment trusts, and for other purposes.

Introduced: April 29, 2008 See on congress.gov
Taxation CommerceContractorsDividendsExcise tax
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Finance and Financial SectorForeign Trade and International FinanceForeign corporationsForeign exchangeFutures tradingHealthHealth facilitiesIncome taxLeasesReal estate investmentRentSecuritiesStocksSubsidiary corporationsTax administrationTax exclusionTax penalties
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 16, 2007
Referred to the House Committee on Ways and Means.
Feb 16, 2007
Sponsor introductory remarks on measure. (CR E384-385)
Feb 16, 2007
Introduced in House
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 Latest action February 16, 2007

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.

 Related & companion bills 1
  • S 2002 Related bill REIT Investment Diversification and Empowerment Act of 2007
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 5
All 5 Democratic 5
D
Carson, André
Indiana · Apr 29, 2008
 D
Doggett, Lloyd
Texas · Apr 3, 2008
 D
Van Hollen, Chris
Maryland · Mar 3, 2008
 D
Larson, John B.
Connecticut · Apr 23, 2007
 D
Neal, Richard E.
Massachusetts · Apr 23, 2007
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1147: REIT Investment Diversification and Empowerment Act of 2007. 110th Congress. Open America. https://openamerica.io/bill/110-HR-1147/
MLA
"H.R. 1147: REIT Investment Diversification and Empowerment Act of 2007." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-1147/.
Bluebook (legal)
H.R. 1147, 110th Cong. (2026), https://openamerica.io/bill/110-HR-1147/.
Markdown link
[H.R. 1147: REIT Investment Diversification and Empowerment Act of 2007](https://openamerica.io/bill/110-HR-1147/)
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