NAR Supports Real Estate Investment Trust Act
In early June, a coalition of real estate organizations, including NAR, wrote to Western Massachusetts Representative Richard Neal (D-MA) and Rep. Patrick Tiberi (R-OH) thanking them for introducing H.R. 5746, the Update and Streamline REIT Act (U.S. REIT Act). This legislation would make a number of narrowly targeted, but important, changes to the tax rules applicable to Real Estate Investment Trusts (REITs). These changes will enable them to operate effectively, keep up with market changes, and remain consistent with the decades-old Congressional goal of making professionally managed, income-producing real estate available to investors from all walks of life.