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Tax Changes for Retail Real Estate Investment Trusts

This act modifies tax rules for real estate investment trusts (REITs), making it easier for them to support financially distressed tenants and adjusting rules on relationships between REITs and their tenants. The goal is to revitalize the retail sector and help struggling businesses.
Key points
REITs can now more easily assist tenants facing financial difficulties, such as bankruptcy, without losing their tax benefits.
The allowed ownership percentage between REITs and their tenants has been increased, providing greater flexibility in managing retail properties.
These new rules aim to encourage investment in retail real estate and support its growth, potentially impacting the availability of stores and services.
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Additional Information
Print number: 118_HR_3749
Sponsor: Rep. LaHood, Darin [R-IL-16]
Process start date: 2023-05-30
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Retail Revitalization Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3749.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-30.

What are the main provisions?

Key points include:

  • REITs can now more easily assist tenants facing financial difficulties, such as bankruptcy, without losing their tax benefits.
  • The allowed ownership percentage between REITs and their tenants has been increased, providing greater flexibility in managing retail properties.
  • These new rules aim to encourage investment in retail real estate and support its growth, potentially impacting the availability of stores and services.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. LaHood, Darin [R-IL-16].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Real Estate Economy