October 2004 President Bush signs into law the American Jobs Creation Act, including all three titles of the REIT Improvement Act. Two of the primary provisions eliminate a discriminatory barrier to foreign investors buying publicly listed REIT stock and allow a REIT to either fix a mistake or pay monetary penalties for most violations of the REIT tax rules, instead of facing possible loss of REIT status as under prior law.

Read more about the REIT Improvement Act.

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Brightcove Video
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Watch a video with NAREIT Senior Tax Counsel Dara Bernstein discussing the REIT Improvement Act.