Overview
Reps. Brady and Crowley Introduce FIRPTA Legislation: Yesterday, Representatives Kevin Brady (R-TX) and Joe Crowley (D-NY) re-introduced the Real Estate and Jobs Investment Act of 2015 (H.R. 2128). The bill would alter the Foreign Investment in Real Property Tax Act (FIRPTA), which taxes foreign persons on the disposition of U.S. real property interests. The bill would exempt foreign pension funds investing in commercial real estate from the FIRPTA tax.