S. 1334 aims to change the Internal Revenue Code of 1986 by raising the limit on assets that real estate investment trusts (REITs) can hold in their taxable subsidiaries from 20 percent to 25 percent. This amendment is set to be effective for tax years starting after December...
Simple Explanation
In this bill, they want to let companies that own lots of buildings, called real estate investment trusts (REITs), put a little more of their money into special companies that have to pay taxes. Right now, they can only put 20 pennies out of every dollar into these companies, but the plan is to let them use 25 pennies instead, starting in about two years.