Amends the Internal Revenue Code to repeal the capital gains tax on disposition of investments in U.S. real property by foreign citizens. Repeals the withholding of tax on dispositions of U.S. real property interests and the special reporting requirements with respect to U.S. real property interests.
Referred to House Committee on Ways and Means.
Committee on Finance requested executive comment from OMB, Treasury Department, State Department.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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