,,ii  #aaf? ,,congress  #a/ ,session    
,s4 #ahbg  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ac1 #bjai,mr4   
,wyd5 introduc$ ! foll[+ bill2 :i* 0    
read twice & ref]r$ to ! ,committee on  
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to exclude        
corporations op]at+ prisons f !         
def9ition ( taxable ,,reit subsidi>y4   
#a4 ,%ort title ,?is ,act may be cit$ z 
! ,end+ ,tax ,breaks = ,private ,prisons
 ,act4  #b4 ,exclusion ( corporations   
op]at+ prison facilities f def9ition (  
taxable ,,reit facility  7a7 ,9 g5]al   
,section #hef7l77#c7 ( ! ,int]nal       
,rev5ue ,code ( #aihf is am5d$--  7#a7  
by /rik+ subp>agraph 7,a7 & ins]t+ !    
foll[+3  7,a7 any corporation :i*--  7i7
 directly or indirectly op]ates or      
manages a lodg+ facility or a heal? c>e 
facility1 or  7ii7 directly or          
indirectly op]ates or manages a prison  
facility or provides s]vices at or 9    
connection ) a prison facility1 &  1    
7#b7 9 subp>agraph 7,b71 by /rik+ any   

lodg+ facility or heal? c>e facility &  
ins]t+ any lodg+ facility1 heal? c>e    
facility1 or prison facility1 &  7#c7 by
 /rik+ ! la/ s5t5ce & ins]t+ ! foll[+3  
,subp>agraph 7,b7 %all n apply to rights
 provid$ to an eligible indep5d5t       
contractor to op]ate or manage a lodg+  
facility1 a heal? c>e facility1 or a    
prison facility if su* rights are held  
by su* corporation z a fran*isee1       
lic5see1 or 9 a simil> capacity & su*   
lodg+ facility1 heal? c>e facility1 or  
prison facility is ei!r own$ by su*     
corporation or is leas$ to su*          
corporation f ! real e/ate inve/m5t     
tru/44  7b7 ,def9ition ( prison facility
 ,section #hef7l77#d7 ( ! ,int]nal      
,rev5ue ,code ( #aihf is am5d$ by add+  
at ! end ! foll[+ new subp>agraph3  7,c7
 ,prison facility ,! t]m prison facility
 means any correctional1 det5tion1 or   
p5al facility4  4  7c7 ,effective date  
,! am5dm5ts made by ?is section %all    
apply to taxable ye>s beg9n+ aft] ! date
 ( ! enactm5t ( ?is ,act4