To amend the Internal Revenue Code of 1986 to allow the deduction under section 199A to apply to qualified BDC interest dividends in the same manner as qualified REIT dividends.

Bill 119 HR 652, also known as the "BDC Tax Parity Act," aims to amend the Internal Revenue Code of 1986 to allow for the deduction under section 199A to apply to qualified Business Development Company (BDC) interest dividends in the same way as qualified Real Estate Investment Trust (REIT) dividends.

Currently, section 199A of the Internal Revenue Code allows for a deduction for qualified business income for certain pass-through entities, such as partnerships and S corporations. However, BDCs, which are regulated investment companies that provide financing to small and mid-sized businesses, are not currently eligible for this deduction.

This bill seeks to provide parity between BDCs and REITs by allowing BDC interest dividends to qualify for the deduction under section 199A. This would help level the playing field for BDCs and provide them with similar tax benefits as REITs, which are already eligible for this deduction. Overall, the goal of Bill 119 HR 652 is to support BDCs and encourage investment in small and mid-sized businesses by providing them with tax benefits that are currently available to other types of investment vehicles.