NAREIT submitted comments to the leaders of the Senate Finance and House Ways and Means Committees on June 20 requesting a change to the Technical Corrections Act of 2016 (H.R. 4891 and S. 2775).
NAREIT requested a correction that would treat gains from ancillary personal property rented alongside real property as real estate-related gains. NAREIT said the change would be “consistent with the Congressional intent of streamlining compliance with the REIT gross income and asset tests when ancillary personal property is leased with real property.”
(Contact: Tony Edwards at email@example.com)