Sens. Look To Promote Foreign Investment In US Real Estate

Law360, New York (June 20, 2013, 7:53 PM EDT) -- Sens. Robert Menendez, D-N.J., and Mike Enzi, R-Wyo., reintroduced legislation Thursday aimed at freeing up access to private capital to boost the country's real estate market by reforming tax rules that they say currently penalize overseas investors.

S 1616, known as the Real Estate Investment and Jobs Act, was first introduced in 2011, but died in committee.

Now, with property values still depressed in many areas of the country and financing still difficult to come by, Menendez and Enzi are looking to encourage foreign private investors...
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