Real Estate Investment and Jobs Act of 2015

Hozzl · 2023-01-11T13:27:32Z

Explore the details of House Bill 2128 Real Estate Investment and Jobs Act of 2015 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 2128

Primary Policy Focus

Taxation

Potential Impact Areas

Employee benefits and pensionsFinancial services and investmentsReal estate businessSecuritiesTaxation of foreign incomeU.S. and foreign investments

Alternate Title(s) of Bill HR 2128

Real Estate Investment and Jobs Act of 2015To 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

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