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119-hr-2198119th CongressWALLET

To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.

Sponsored By: Representative Kelly, Mike [R-PA-16]

Introduced

Summary

Raises the cap on assets a REIT can hold in a Taxable REIT Subsidiary (TRS) from 20% to 25%. H.R. 2198 would amend the Internal Revenue Code to restore that 25% TRS asset test, allowing Real Estate Investment Trusts, their affiliates, and investors more flexibility in structuring and managing REIT assets for taxable years beginning after December 31, 2025.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 1 benefits, 0 costs, 0 mixed.

Higher asset cap for real estate trusts

This bill would let real estate investment trusts hold more assets in a taxable subsidiary. The cap would rise to 25% of total assets, up from 20%. It would apply to tax years that begin after December 31, 2025. REITs and their investors would have more flexibility in how they structure holdings and plan taxes.

Sponsors & CoSponsors

Sponsor

Kelly, Mike [R-PA-16]

PA • R

Cosponsors

  • Rep. Schneider, Bradley Scott [D-IL-10]

    IL • D

    Sponsored 3/18/2025

  • Rep. Feenstra, Randy [R-IA-4]

    IA • R

    Sponsored 3/18/2025

  • Rep. Panetta, Jimmy [D-CA-19]

    CA • D

    Sponsored 3/18/2025

  • Rep. LaHood, Darin [R-IL-16]

    IL • R

    Sponsored 3/18/2025

  • Rep. Moore, Gwen [D-WI-4]

    WI • D

    Sponsored 3/18/2025

  • Rep. Moore, Blake D. [R-UT-1]

    UT • R

    Sponsored 3/18/2025

  • Rep. Davis, Danny K. [D-IL-7]

    IL • D

    Sponsored 3/18/2025

  • Rep. Tenney, Claudia [R-NY-24]

    NY • R

    Sponsored 3/18/2025

  • Rep. DelBene, Suzan K. [D-WA-1]

    WA • D

    Sponsored 3/18/2025

  • Rep. Fitzpatrick, Brian K. [R-PA-1]

    PA • R

    Sponsored 3/18/2025

  • Rep. Suozzi, Thomas R. [D-NY-3]

    NY • D

    Sponsored 3/18/2025

  • Rep. Buchanan, Vern [R-FL-16]

    FL • R

    Sponsored 3/18/2025

  • Rep. Murphy, Gregory F. [R-NC-3]

    NC • R

    Sponsored 3/18/2025

  • Rep. Smith, Adrian [R-NE-3]

    NE • R

    Sponsored 3/18/2025

  • Rep. Estes, Ron [R-KS-4]

    KS • R

    Sponsored 3/18/2025

  • Rep. Hern, Kevin [R-OK-1]

    OK • R

    Sponsored 3/31/2025

  • Rep. Moran, Nathaniel [R-TX-1]

    TX • R

    Sponsored 3/31/2025

  • Rep. Kustoff, David [R-TN-8]

    TN • R

    Sponsored 3/31/2025

  • Rep. Carey, Mike [R-OH-15]

    OH • R

    Sponsored 4/8/2025

  • Rep. Malliotakis, Nicole [R-NY-11]

    NY • R

    Sponsored 10/3/2025

Roll Call Votes

No roll call votes available for this bill.

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