Introduced in House — H.R. 2198

119th CONGRESS

1st Session

H. R. 2198

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.

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.