PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Finance and Hazardous Materials.
Congressional Research Service
Version 00 · Introduced in House · Nov 9, 1997
Amends the Securities Exchange Act of 1934 to exclude from the definition of limited partnership rollup transaction any combination of a single limited partnership or multiple limited partnerships whose real estate assets consist solely of partial interests in the same property, with an unaffiliated issuer of securities. States that such a combination is not conditioned upon the completion of any other acquisition transaction, in exchange for securities (or a combination or alternative offer of securities and cash), if the securities issued in the combination to the limited partners in the combining partnership or partnerships represent ten percent or less of a class of securities that is, or will be upon notice of issuance, listed on the New York Stock Exchange or American Stock Exchange or the National Market System of the Nasdaq Stock Market (or any successor to such entities) and are part of a class of securities so listed for a year or more.
People & committees
Rep. Kennedy, Joseph P., II [D-MA-8] · D–MA
Legislative record
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Referred to the Subcommittee on Finance and Hazardous Materials.
Referred to the House Committee on Commerce.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 21, 2025. Consult Congress.gov for the current record.
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Analyze H.R.2996 as objectively as possible. Explain its main provisions, who would be affected, possible benefits and harms, implementation, exceptions, and uncertainties. Present the strongest arguments for and against it, and identify evidence needed to assess its public impact.
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