HR 3749
118th Congress
House
Taxation
Retail Revitalization Act of 2023
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 30, 2023
Referred to the House Committee on Ways and Means.
May 30, 2023
Introduced in House
Plain-English summary
Retail Revitalization Act of 2023
This bill amends tax rules for real estate investment trusts (REITs). It increases (1) the share of equity investments a distressed retail tenant may receive from a REIT from 10% to 50%, and (2) the equity share for regular tenants from 10% to 30%.
The bill also allows taxable REIT subsidiaries to accept equity in a retail tenant's businesses as a form of rent, subject to certain restrictions.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1