REIT Investment Diversification and Empowerment Act of 2007

Summary

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.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 16 February 2007

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• Introduced in House (PDF)

  Introduced in House · EN · 16 February 2007

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• Introduced in House

  summary · EN · 16 February 2007

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