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S 2002 110th Congress Senate Taxation Commerce Contractors Dividends Excise tax Finance and Financial Sector Foreign Trade and International Finance Foreign corporations Foreign exchange Futures trading Health Health facilities Income tax Leases Real estate investment Rent Securities Stocks Subsidiary corporations Tax administration

REIT Investment Diversification and Empowerment Act of 2007

Introduced: August 3, 2007 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 3, 2007
Read twice and referred to the Committee on Finance.
Aug 3, 2007
Sponsor introductory remarks on measure. (CR S10931-10932)
Aug 3, 2007
Introduced in Senate
 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.

What's happening now August 3, 2007

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1