Sec. 3648. Interests in RICs and REITs not excluded from definition of United States real property interests
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Section 897(c)(1)(B) is amended by striking and at the end of clause (i), by striking the period at the end of clause (ii)(II) and inserting , and , and by adding at the end the following new clause: neither such corporation nor any predecessor of such corporation was a regulated investment company or a real estate investment company at any time during the period described in subparagraph (A)(ii). . The amendment made by this section shall apply to dispositions after December 31, 2014.