Sec. 325. INTERESTS IN RICS AND REITS NOT EXCLUDED FROM DEFINITION OF UNITED STATES REAL PROPERTY INTERESTS
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## SEC. 325 INTERESTS IN RICS AND REITS NOT EXCLUDED FROM DEFINITION OF UNITED STATES REAL PROPERTY INTERESTS ###
(a)In General **[**[26 U.S.C. 897](/us/usc/t26/s897)**]** 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: > > ###### “(iii) > > neither such corporation nor any predecessor of such corporation was a regulated investment company or a real estate investment trust at any time during the shorter of the periods described in subparagraph (A)(ii).” > . ###
(b)Effective Date **[**[26 U.S.C. 897 note](/us/usc/t26/s897)**]** The amendment made by this section shall apply to dispositions on or after the date of the enactment of this Act.
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Sec. 325
INTERESTS IN RICS AND REITS NOT EXCLUDED FROM DEFINITION OF UNITED STATES REAL PROPERTY INTERESTS
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