Bill > S915

This bill, titled the "Real Estate Investment and Jobs Act of 2015," aims to amend the Internal Revenue Code of 1986 to provide exceptions from the tax on foreign investments in United States real property interests, specifically for certain stock held by Real Estate Investment Trusts (REITs). A key provision increases the ownership threshold from 5% to 10% for foreign investors in publicly traded REITs to be considered as holding a United States real property interest, thereby exempting more of their investments from this tax. It also introduces new definitions for "qualified shareholder" and "applicable investor" to clarify who can benefit from these exceptions, generally focusing on foreign entities that are eligible for tax treaty benefits, are regularly traded, and maintain records of their significant investors. Additionally, the bill modifies rules for determining domestic control of investment entities and introduces new notification requirements for corporations that are United States real property holding corporations, along with penalties for non-compliance, and adjusts withholding tax rates on dispositions of U.S. real property interests.