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Real Estate Investment and Jobs Act of 2015
1/11/2023, 1:27 PM
Congressional Summary of HR 2128
Real Estate Investment and Jobs Act of 2015
This bill amends the Internal Revenue Code to increase from 5% to 10% the stock ownership threshold in a real estate investment trust for purposes of exempting proceeds from dispositions of such stock from withholding requirements under the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA). Exempts from FIRPTA withholding requirements U.S. real property interests held by: (1) a qualified foreign pension fund created or organized outside the United States, or (2) any entity all of the interests of which are held by a qualified foreign pension fund.
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Current Status of Bill HR 2128
Bill HR 2128 is currently in the status of Bill Introduced since April 30, 2015. Bill HR 2128 was introduced during Congress 114 and was introduced to the House on April 30, 2015. Bill HR 2128's most recent activity was Referred to the House Committee on Ways and Means. as of April 30, 2015
Bipartisan Support of Bill HR 2128
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
37Democrat Cosponsors
10Republican Cosponsors
27Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 2128
Primary Policy Focus
TaxationPotential Impact Areas
- Employee benefits and pensions
- Financial services and investments
- Real estate business
- Securities
- Taxation of foreign income
- U.S. and foreign investments
Alternate Title(s) of Bill HR 2128
Real Estate Investment and Jobs Act of 2015
To amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes.
Real Estate Investment and Jobs Act of 2015
Comments
Sponsors and Cosponsors of HR 2128
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