09/15/2010 | by
Nareit Staff

Congress Recognizes REITs at 50

September 16, 2010

Congress Recognizes REITs at 50

The U.S. House of Representatives by a unanimous voice vote yesterday passed a resolution recognizing the fiftieth anniversary of REITs and the legislation that created the U.S. REIT industry.

The bill, H. Res. 1595, was introduced by House Ways and Means Committee Chairman Sander Levin (D-MI) and co-sponsored by 38 other Representatives, including Congressman David Camp (R-MI), the ranking minority member of the committee, and Congressmen Peter Stark (D-CA) and Joseph Crowley (D-NY), both past recipients of NAREIT's Small Investor Empowerment Award.

The resolution recognizes "the enhanced opportunities for investment and retirement security that have been afforded to Americans from all walks of life as a result of this landmark legislation." The complete text of the resolution can be read HERE.

In addition, a number of Representatives and Senators introduced statements in the Congressional Record acknowledging the 50th milestone. Their statements and additional information can be seen on the 50th Anniversary page of REIT.com by clicking HERE, and the debate on the resolution can be viewed HERE.

Since its founding, one of our industry's most important relationships has been with the national policymakers who make the REIT approach to real estate investment possible and who work with us to perfect it over time.

NAREIT greatly appreciates the leadership of these Members of Congress and their recognition of our industry's contributions over five decades to our other most important relationship: the millions of investors who benefit from the REIT approach to real estate investment.

All the best,

Steven A. Wechsler
President and CEO