CONGRESS FOR VOTERS

RepublicanBill · H.R. 2198· House(119-HR-2198)

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

Rep. Kelly
Age: 78 years
Pennsylvania
Introduced
3/18/2025
Last activity
3/18/2025 — Referred to the House Committee on Ways and Means.
Sponsored by
Mike Kelly
Cosponsors
Republican - 14Democrat - 6
Taxation
  1. Introduced
  2. In Committee

What this bill would do

This bill proposes an amendment to the Internal Revenue Code of 1986. The primary purpose is to restore the taxable REIT subsidiary asset test. It achieves this by changing a specific percentage requirement in the code. The change involves striking the current "20 percent" and replacing it with "25 percent." This amendment would apply to taxable years that begin after December 31, 2025.

Yes· 3 of 6

  • Would high-income households be better off under this?+1

    The change in the REIT asset test primarily benefits real estate investment entities and their investors.

  • Would business owners be better off under this?+1

    The relaxation of the asset test may benefit owners of real estate-related businesses and investment vehicles.

  • Would people with substantial wealth be better off under this?+1

    The bill's provision is likely to benefit high net worth individuals who invest in REITs.

The opposite

No question was scored the opposite.