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S 1334
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A bill to amend the Internal Revenue Code of 1986 to increase the percentage limitation on assets of real estate investment trusts which may be held in taxable REIT subsidiaries.

To amend the Internal Revenue Code of 1986 to increase the percentage limitation on assets of real estate investment trusts which may be held in taxable REIT subsidiaries.

Introduced Apr 8, 2025

Latest action (Apr 8, 2025) Read twice and referred to the Committee on Finance.

Referred to
Finance Committee
Policy area
Taxation
Issues
Economy & Taxes

Summary
  • Increases the maximum percentage of real estate investment trust assets that can be held in taxable REIT subsidiaries from 20 percent to 25 percent
  • Allows real estate investment trusts greater flexibility in the proportion of assets held through taxable subsidiaries
  • Makes this change effective 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)
1 cosponsor

Actions (2)
  1. Apr 8, 2025 Read twice and referred to the Committee on Finance. · senate
  2. Apr 8, 2025 Introduced in Senate

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.

  • HR 2198 — To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test. · Introduced Mar 18, 2025 · Cong. 119 73%
  • HR 3588 — Real Estate Reciprocity Act · Introduced May 23, 2025 · Cong. 119 70%
  • HR 7034 — To amend the Internal Revenue Code of 1986 to eliminate the dollar limitations on the exclusion of gain from sales of principal residences, and for other purposes. · Introduced Jan 13, 2026 · Cong. 119 70%
  • S 1986 — A bill to amend the Internal Revenue Code of 1986 to extend the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands. · Introduced Jun 9, 2025 · Cong. 119 69%
  • S 1315 — A bill to amend the Internal Revenue Code of 1986 to provide a refundable credit for certain home accessibility improvements. · Introduced Apr 7, 2025 · Cong. 119 68%
  • S 1704 — National Taxpayer Advocate Enhancement Act of 2025 · Introduced May 8, 2025 · Cong. 119 67%

Full text

IN THE SENATE OF THE UNITED STATES

April 8, 2025

Mr. Tillis (for himself and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to increase the percentage limitation on assets of real estate investment trusts which may be held in taxable REIT subsidiaries.

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

SECTION 1. INCREASE IN PERCENTAGE LIMITATION ON ASSETS OF REIT WHICH MAY BE TAXABLE REIT SUBSIDIARIES.

(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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