A bill to amend the Internal Revenue Code of 1986 to exclude corporations operating prisons from the definition of taxable REIT subsidiary.
Ending Tax Breaks for Private Prisons Act
This bill amends the Internal Revenue Code to exclude from the definition of "taxable REIT (Real Estate Investment Trust) subsidiary" any corporation which directly or indirectly: (1) operates or manages a prison facility or provides services at or in connection with a prison facility; or (2) provides to any other person (under a franchise, license, or otherwise) rights to any brand name under which any prison facility is operated, subject to specified exceptions.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line