# 119-hr-2198: To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.

119-hr-2198, To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test., is a 119th Congress bill sponsored by Rep. Kelly, Mike [R-PA-16] (R-PA); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-2198
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-2198
- Congress: 119
- Title: To amend the Internal Revenue Code of 1986 to restore the taxable REIT subsidiary asset test.
- Status: introduced
- Introduced: 2025-03-18
- Sponsor: Rep. Kelly, Mike [R-PA-16] (R-PA)
- Cosponsors: 20
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## 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.

## Cosponsors (20)

- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL), 2025-03-18T00:00:00.000Z
- Rep. Feenstra, Randy [R-IA-4] (R-IA), 2025-03-18T00:00:00.000Z
- Rep. Panetta, Jimmy [D-CA-19] (D-CA), 2025-03-18T00:00:00.000Z
- Rep. LaHood, Darin [R-IL-16] (R-IL), 2025-03-18T00:00:00.000Z
- Rep. Moore, Gwen [D-WI-4] (D-WI), 2025-03-18T00:00:00.000Z
- Rep. Moore, Blake D. [R-UT-1] (R-UT), 2025-03-18T00:00:00.000Z
- Rep. Davis, Danny K. [D-IL-7] (D-IL), 2025-03-18T00:00:00.000Z
- Rep. Tenney, Claudia [R-NY-24] (R-NY), 2025-03-18T00:00:00.000Z
- Rep. DelBene, Suzan K. [D-WA-1] (D-WA), 2025-03-18T00:00:00.000Z
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2025-03-18T00:00:00.000Z
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY), 2025-03-18T00:00:00.000Z
- Rep. Buchanan, Vern [R-FL-16] (R-FL), 2025-03-18T00:00:00.000Z
- Rep. Murphy, Gregory F. [R-NC-3] (R-NC), 2025-03-18T00:00:00.000Z
- Rep. Smith, Adrian [R-NE-3] (R-NE), 2025-03-18T00:00:00.000Z
- Rep. Estes, Ron [R-KS-4] (R-KS), 2025-03-18T00:00:00.000Z
- Rep. Hern, Kevin [R-OK-1] (R-OK), 2025-03-31T00:00:00.000Z
- Rep. Moran, Nathaniel [R-TX-1] (R-TX), 2025-03-31T00:00:00.000Z
- Rep. Kustoff, David [R-TN-8] (R-TN), 2025-03-31T00:00:00.000Z
- Rep. Carey, Mike [R-OH-15] (R-OH), 2025-04-08T00:00:00.000Z
- Rep. Malliotakis, Nicole [R-NY-11] (R-NY), 2025-10-03T00:00:00.000Z

## Provisions PRIA read

- Higher asset cap for real estate trusts: benefit, low. 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 an…

## Related bills

- 119-hr-1502: North Platte Canteen Congressional Gold Medal Act
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act
- 119-hr-909: Crime Victims Fund Stabilization Act of 2025
- 119-hr-452: Miracle on Ice Congressional Gold Medal Act
- 119-hr-2725: Affordable Housing Credit Improvement Act of 2025
- 119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025

## Sources
- [119-hr-2198 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/2198)

## Related
- [119-hr-1502: North Platte Canteen Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-1502)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [119-hr-909: Crime Victims Fund Stabilization Act of 2025](https://policyrisk.com/legislation/119-hr-909)
- [119-hr-452: Miracle on Ice Congressional Gold Medal Act](https://policyrisk.com/legislation/119-hr-452)
- [119-hr-2725: Affordable Housing Credit Improvement Act of 2025](https://policyrisk.com/legislation/119-hr-2725)
- [119-hr-3514: Improving Seniors’ Timely Access to Care Act of 2025](https://policyrisk.com/legislation/119-hr-3514)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-2198 (as of 2026-04-21).