H.R. 1147 (110th): REIT Investment Diversification and Empowerment Act of 2007

Feb 16, 2007 (110th Congress, 2007–2009)
Died (Referred to Committee)
See Instead:

S. 2002 (same title)
Referred to Committee — Aug 03, 2007

Joseph Crowley
Representative for New York's 7th congressional district
Read Text »
Last Updated
Feb 16, 2007
16 pages
Related Bills
S. 2002 (Related)
REIT Investment Diversification and Empowerment Act of 2007

Referred to Committee
Last Action: Aug 03, 2007


This bill was introduced on February 16, 2007, in a previous session of Congress, but was not enacted.

Introduced Feb 16, 2007
Referred to Committee Feb 16, 2007
Full Title

To amend the Internal Revenue Code of 1986 to simplify certain provisions applicable to real estate investment trusts, and for other purposes.


No summaries available.

34 cosponsors (19D, 15R) (show)

House Ways and Means

The committee chair determines whether a bill will move past the committee stage.

Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.


Get a bill status widget for your website »


Click a format for a citation suggestion:


H.R. stands for House of Representatives bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to:
(1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income;
(2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries;
(3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities;
(4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and
(5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.

No summary available.

House Democratic Caucus Summary

The House Democratic Caucus does not provide summaries of bills.

So, yes, we display the House Republican Conference’s summaries when available even if we do not have a Democratic summary available. That’s because we feel it is better to give you as much information as possible, even if we cannot provide every viewpoint.

We’ll be looking for a source of summaries from the other side in the meanwhile.

Use the comment space below for discussion of the merits of H.R. 1147 (110th) with other GovTrack users.
Your comments are not read by Congressional staff.

comments powered by Disqus