AB 1869 (Haney D) Real Estate Investment Trusts: management duties.
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(Haney D) Real Estate Investment Trusts: management duties. |
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Position: Watch Introduced: 2/12/2026 |
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Last Amend: 4/14/2026 |
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Status: 4/15/2026-Re-referred to Com. on REV. & TAX. |
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Location: 3/16/2026-A. REV. & TAX |
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Summary: The Corporation Tax Law, in modified conformity with federal income tax law, allows a corporation, trust, or association that would otherwise be taxable as a domestic corporation to elect to be treated as a real estate investment trust (REIT) if specified requirements are met in relation to the character of income received by the entity, including a requirement that 95% of the entity’s income fits into several categories, including rents from real property. Existing law specifically excludes from the term “rents from real property” impermissible tenant service income, defined to include amounts received directly or indirectly for managing or operating real property. This bill would allow affected employees of a lodging facility, as defined, or their representative to provide evidence to the Labor Commissioner of activities performed by a REIT that constitute direct or indirect operation or management of a lodging facility. |
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