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To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.
To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.
Summary
This bill would amend the Internal Revenue Code to increase the asset limit for taxable REIT subsidiaries from 20 percent to 25 percent of a REIT's total assets. REITs (Real Estate Investment Trusts) are tax-advantaged entities for real estate investment, and they are permitted to operate taxable REIT subsidiaries to handle certain business activities; this bill raises the percentage of assets that can be held in such subsidiaries. The change would take effect for taxable years beginning after December 31, 2025.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Kelly, Mike [R-PA-16] (R-PA)
20 cosponsors
- Rep. Buchanan, Vern [R-FL-16] (R-FL)
- Rep. Carey, Mike [R-OH-15] (R-OH)
- Rep. Davis, Danny K. [D-IL-7] (D-IL)
- Rep. DelBene, Suzan K. [D-WA-1] (D-WA)
- Rep. Estes, Ron [R-KS-4] (R-KS)
- Rep. Feenstra, Randy [R-IA-4] (R-IA)
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA)
- Rep. Hern, Kevin [R-OK-1] (R-OK)
- Rep. Kustoff, David [R-TN-8] (R-TN)
- Rep. LaHood, Darin [R-IL-16] (R-IL)
- Rep. Malliotakis, Nicole [R-NY-11] (R-NY)
- Rep. Moore, Blake D. [R-UT-1] (R-UT)
- Rep. Moore, Gwen [D-WI-4] (D-WI)
- Rep. Moran, Nathaniel [R-TX-1] (R-TX)
- Rep. Murphy, Gregory F. [R-NC-3] (R-NC)
- Rep. Panetta, Jimmy [D-CA-19] (D-CA)
- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL)
- Rep. Smith, Adrian [R-NE-3] (R-NE)
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY)
- Rep. Tenney, Claudia [R-NY-24] (R-NY)
Money behind the sponsor
Top reported contributors to Mike Kelly’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- NULL $43,700
- THE PARKER FOUNDATION $13,200
- LINDY PAVING INC. $8,800
- GREATER PITTSBURGH AUTO DEALERS ASSOCI $8,300
- ANDERSON COACH & TRAVEL $8,300
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Mike Kelly → · Outside spending →
Actions (2)
- Mar 18, 2025 Referred to the House Committee on Ways and Means. · house
- Mar 18, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
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. <all>
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