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ADISA Co-Signs Letter to House Means and Ways Committee to Support the Real Estate Investment and Jobs Act of 2015

Apr 28, 2015

ADISA (Alternative & Direct Investment Securities Association) has joined a coalition of 18 organizations expressing strong support for Representatives Kevin Brady (R-TX) and Joseph Crowley’s (D-NY) Real Estate Investment and Jobs Act of 2015 and urging members of Congress to cosponsor the legislation. If enacted, this bipartisan legislation would create jobs and stimulate investment in U.S. commercial real estate and infrastructure by providing relief from the Foreign Investment in Real Property Tax Act (FIRPTA).
 
The letter states, “The Real Estate Investment and Jobs Act of 2015 is a modified version of legislation introduced in the last two Congresses. The bill includes two critical provisions to mobilize foreign capital for investment in the United States. First, it would increase the ownership stake that a foreign investor can take in a publicly traded U.S. real estate investment trust without triggering FIRPTA liability and extend the provision to certain collective investment vehicles. Second, it would remove the tax penalty that FIRPTA imposes on foreign pension funds that invest in U.S. real estate and infrastructure.”
 
ADISA has previously co-signed two letters supporting relief from FIRPTA:

View the letter in its entirety here.