Sec. 3645. Treatment of certain services provided by taxable REIT subsidiaries

220 words·~1 min read·/bill/113/hr/1/ih/section-3645

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Clause

(v)of section 857(b)(6)(C) is amended by inserting or by a taxable REIT subsidiary before the period at the end. Subparagraph

(C)of section 856(e)(4) is amended by inserting or through a taxable REIT subsidiary after receive any income . Subparagraph

(A)of section 857(b)(7) is amended by striking and excess interest and inserting excess interest, and redetermined TRS service income . Paragraph

(7)of section 857(b) is amended by redesignating subparagraphs

(E)and

(F)as subparagraphs

(F)and (G), respectively, and inserting after subparagraph

(D)the following new subparagraph: The term redetermined TRS service income means gross income of a taxable REIT subsidiary of a real estate investment trust attributable to services provided to, or on behalf of, such trust (less deductions properly allocable thereto) to the extent the amount of such income (less such deductions) would (but for subparagraph (F)) be increased on distribution, apportionment, or allocation under section 482. Clause

(i)shall not apply with respect to gross income attributable to services furnished or rendered to a tenant of the real estate investment trust (or to deductions properly allocable thereto). . Subparagraphs (B)(i) and

(C)of section 857(b)(7) are each amended by striking subparagraph

(E)and inserting subparagraph

(F). The amendments made by this section shall apply to taxable years beginning after December 31, 2014.