,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #hhje  ,,in ,,the ,,house ,,of  
,,representatives  ,november #bj1       
#bjbj,mr4 ,schneider 7for himself and   
,mr4 ,la,hood7 introduced the following 
bill2 which was referred to the         
,committee on ,ways and ,means  ,a      
,,bill  ,to amend the ,internal ,revenue
 ,code of #aihf to modify rules related 
to rents received by real estate        
investment trusts from related parties4 
#a4 ,short title ,this ,act may be cited
 as the ,retail ,revitalization ,act of 
#bjbj4  #b4 ,modification of rules      
related to rents received by real estate
 investment trusts from related parties 
7a7 ,increase in permissible ownership  
percentage ,section #hef7;d77#b77;,b7 of
 the ,internal ,revenue ,code of #aihf  
is amended by striking #aj percent or   
more each place it appears and inserting
 more than #ej percent4  7b7            
,modification of rules for constructive 
ownership of stock ,section #hef7;d77#e7
 of such ,code is amended-- 7#a7 by     

striking #aj percent shall be           
substituted for #ej percent in          
subparagraph 7,a7 and inserting more    
than #ej percent shall be substituted   
for #ej percent or more1  7#b7 by       
striking #be percent or more in         
subparagraph 7,b7 and inserting more    
than #ej percent1 and  7#c7 by striking 
and at the end of subparagraph 7,a71 by 
striking the period at the end of       
subparagraph 7,b7 and inserting 1 and1  
and by adding at the end the following  
new subparagraph3  7,c7 section         
#cah7;a77#e77;,c7 shall be applied by   
substituting paragraph 7#b7 or 7#c7 for 
paragraph 7#b74  4  7c7 ,modification of
 rules for taxable ,,reit subsidiaries  
,section #hef7;d77#h77;,a77i7 of such   
,code is amended by striking #ij percent
 and inserting #ej percent4  7d7        
,effective date ,the amendments made by 
this section shall apply to taxable     
years ending after the date of the      
enactment of this ,act4