119-hr2198

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2198 Introduced in House

    (IH) ]

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119th CONGRESS
 1st Session
 H. R. 2198

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

_______________________________________________________________________

 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.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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.
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