Rep. Kevin Brady House Republicans are proposing a bill that would prevent certain companies from spinning off their property holdings into real estate investment trusts. The bill, which Rep. Kevin Brady (R., Texas) released on Monday and could pass the house later this week, restricts non-REITs from spinning off into REITs, the Wall Street Journal reported. It also requires spinoffs to wait a decade before they can change into REITs. (more…)
Source: The Real Deal
