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S 3289 IS
111th CONGRESS
2d Session
S. 3289
To amend the American Recovery and Reinvestment Tax Act of 2009 to allow specified energy property grants to real estate investment trusts without regard to the ratable share income limitations.
IN THE SENATE OF THE UNITED STATES
April 29, 2010
Mr. CARDIN introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the American Recovery and Reinvestment Tax Act of 2009 to allow specified energy property grants to real estate investment trusts without regard to the ratable share income limitations.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
SEC. 2. ELIMINATION OF REIT RATABLE SHARE LIMITATION FOR ARRA GRANTS WITH RESPECT TO SPECIFIED ENERGY PROPERTY.
(a) In General- Subsection (f) of section 1603 of the American Recovery and Reinvestment Tax Act of 2009 is amended by inserting after ‘Code of 1986’ the following: ‘, except that subsection (d)(1) thereof shall not apply in the case of a real estate investment trust (as defined in section 856 of such Code)’.
(b) Effective Date- The amendment made by this section shall apply to grants made after the date of the enactment of this Act.
U.S. Congress - Text of S.3289 as Introduced in Senate Sustainable Property Grants Act of 2010
