Corporate income tax; addback for Captive REIT dividends. (SB508)

Introduced By

Sen. Glen Sturtevant (R-Midlothian)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Corporate income tax; addback for Captive REIT dividends. Provides that the voting power or value of the beneficial interests or shares in a real estate investment trust (REIT) that is held in a segregated asset account of a life insurance corporation shall not be taken into consideration when determining if the REIT is a Captive REIT for corporate income tax purposes. Under current law, no deduction from corporate income is allowed for dividends paid by a Captive REIT. The bill modifies current law for purposes of determining whether a REIT is a Captive REIT that will not be allowed a deduction for the dividends it pays. The bill is effective for taxable year 2016 and thereafter. Read the Bill »


Bill Has Failed


01/12/2016Prefiled and ordered printed; offered 01/13/16 16102015D
01/12/2016Referred to Committee on Finance
01/23/2016Impact statement from TAX (SB508)
02/09/2016Reported from Finance (15-Y 0-N) (see vote tally)
02/10/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/11/2016Read second time and engrossed
02/11/2016Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/11/2016Passed Senate (40-Y 0-N) (see vote tally)
02/15/2016Placed on Calendar
02/15/2016Read first time
02/15/2016Referred to Committee on Finance
02/17/2016Impact statement from TAX (SB508)
03/08/2016Left in Finance

Duplicate Bills

The following bills are identical to this one: HB95.