Summary of HB08-1408
Short Title: Real Estate Investment Trusts

Sponsors: Levy/Veiga

Adopts the multistate tax commission's definitions of real estate investment trust and captive real estate investment trust. Makes clear that the executive director of the department of revenue may, to avoid abuse, on a fair and impartial basis, distribute or allocate the gross income and deductions between or among C corporations, including any transactions involving a captive real estate investment trust. Requires the disclosure of reportable transactions and establishes penalties for failure to disclose reportable transactions. Defines terms. Makes legislative findings and declarations.


Status
04/22/2008 Introduced In House - Assigned to Finance
04/28/2008 House Committee on Finance Pass Unamended to House Committee of the Whole
04/29/2008 House Second Reading Laid Over
04/30/2008 House Second Reading Special Order - Passed with Amendments
05/01/2008 House Third Reading Passed
05/01/2008 Introduced In Senate - Assigned to Finance
05/05/2008 Senate Committee on Finance Pass Amended to Senate Committee of the Whole
05/05/2008 Senate Second Reading Special Order - Passed with Amendments

Amendments

Fiscal Notes Status

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