PlainBillCongress, translated.Legislation. Context. Public interest.Placed on Senate Legislative Calendar under General Orders. Calendar No. 48.
Congressional Research Service
Version 00 · Introduced in Senate · Apr 14, 2015
Real Estate Investment and Jobs Act of 2015
This bill amends the Internal Revenue Code, with respect to the taxation of stock interests of foreign investors, to: (1) increase from 5% to 10% the stock ownership threshold in a real estate investment trust (REIT) for exempting such stock from treatment as a U.S. real property interest on disposition, (2) increase from from 10% to 15% the rate of withholding of tax on dispositions of U.S. real property interests, (3) require a corporation to notify the Department of the Treasury of its status as a U.S. real property holding corporation and to disclose such status on payee statements, (4) impose a penalty on a corporation for failing to make such disclosure, (5) require brokers who sell stock of a U.S. real property holding corporation to a foreign person to withhold 15% of the amount realized on the sale, and (6) deny dividends derived from regulated investment companies and REITs the tax deduction for the U.S.-sourced portion of such dividends received from a foreign-owned corporation.
The bill also increases from 30% to 35% the rate of the continuous levy on payments to Medicare providers and suppliers for unpaid taxes.
People & committees
Sen. Hatch, Orrin G. [R-UT] · R–UT
Legislative record
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Placed on Senate Legislative Calendar under General Orders. Calendar No. 48.
Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-25.
Committee on Finance. Original measure reported to Senate by Senator Hatch. With written report No. 114-25.
Introduced in Senate
Primary sources
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Source last updated: Apr 7, 2025. Consult Congress.gov for the current record.
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