Reps. Seek To Ease Foreign Investment In US Real Estate

Law360, New York (August 1, 2013, 6:22 PM EDT) -- U.S. Reps. Kevin Brady, R-Texas, and Joseph Crowley, D-N.Y., introduced legislation Wednesday aimed at reforming current tax laws to ease foreign investment in U.S. real estate.

The congressmen announced the act, which would accompany an existing bill with a similar goal introduced by Sens. Robert Menendez, D-N.J., and Mike Enzi, R-Wyo., in June, during a conference call late Wednesday.

The bill, known as the Real Estate Investment and Jobs Act, would amend the Foreign Investment in Real Property Tax Act of 1980 to allow for increased...
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