HOUSE 3749118th CongressReferred to the House Committee on Ways and Means.
Retail Revitalization Act of 2023
- Last Action
- 5/30/2023
Actions
- 2023-05-30Referred to the House Committee on Ways and Means.
- 2023-05-30Introduced in House
- 2023-05-30Introduced in House
CRS Summary
As of 2023-05-30 (00)
Retail Revitalization Act of 2023
This bill amends tax rules for real estate investment trusts (REITs). It increases (1) the share of equity investments a distressed retail tenant may receive from a REIT from 10% to 50%, and (2) the equity share for regular tenants from 10% to 30%.
The bill also allows taxable REIT subsidiaries to accept equity in a retail tenant's businesses as a form of rent, subject to certain restrictions.
Cosponsors (10)
- Bradley Schneider (D-IL)
- Jimmy Panetta (D-CA)
- Dwight Evans (D-PA)
- Linda Sánchez (D-CA)
- Suzan DelBene (D-WA)
- Claudia Tenney (R-NY)
- Carol Miller (R-WV)
- WILLIAM PASCRELL (D-NJ)
- Nicole Malliotakis (R-NY)
- Brad Wenstrup (R-OH)
Sourced from Congress.gov (public domain).
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