US Congress Senate Bill 915 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on April 14 2015 - 25% progression, died in chamber
Action: 2015-04-14 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 48.
Text: Latest bill text (Introduced) [PDF]

Real Estate Investment and Jobs Act of 2015 (Sec. 2) This section increases from 5% to 10% the stock ownership threshold in a real estate investment trust (REIT) for exempting such stock as a U.S. real property interest on disposition. (Sec. 3) This section provides for an increase from 10% to 15% of the rate of withholding of tax on dispositions of U.S. real property interests. (Sec. 4) This section requires any corporation that is a U.S. real property holding company during a specified period to disclose such status to the Internal Revenue Service, the corporation's shareholders, and the public. The corporation is subject to penalties for failure to make such a disclosure. (Sec. 5) This section requires a broker to deduct and withhold a tax equal to 15% of the amount realized on the disposition of stock of a U.S. real property holding company by a foreign person. (Sec. 6) This provision exempts regulated investment companies (RICs) and REITs from tax rules governing the treatment of stock of a domestic corporation as a U.S. real property holding company. (Sec. 7) This section provides that neither RICs nor REITs shall not be treated as domestic corporations for purposes of determining whether dividends from a foreign corporation are eligible for the tax deduction for the U.S-sourced portion of such dividends. (Sec. 8) This section increases from 30% to 35% the rate of the continuous levy on payments made after 180 days after the enactment of this Act to Medicare providers and suppliers for unpaid taxes.

Real Estate Investment and Jobs Act of 2015

Sen. Orrin Hatch [R-UT]

Date	Chamber	Action
2015-04-14	Senate	Placed on Senate Legislative Calendar under General Orders. Calendar No. 48.
2015-04-14	Senate	Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-25.

HB2128 (Related) 2015-04-30 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/915/all-info
Text	https://www.congress.gov/114/bills/s915/BILLS-114s915pcs.pdf