S. 5512

Stop Wall Street Looting Act

Sponsor: Elizabeth Warren

6 cosponsors
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I Corporate responsibility

II Anti-looting

Sec. 207. Repeal of special rule for taxable REIT subsidiaries with interests in certain health care property

(a) In general. Section 856(d)(8)(B) of the Internal Revenue Code of 1986 is amended—

(1) by striking or a qualified health care property (as defined in subsection (e)(6)(D)(i)), and

(2) by striking qualified health care property or.

(b) Conforming amendments. Section 856(d)(9) of such Code is amended—

(1) in subparagraph (A)—

(A) by striking or a qualified health care property (as defined in subsection (e)(6)(D)(i)),

(B) by striking or qualified health care property, and

(C) by striking or qualified health care properties, and

(2) in subparagraph (B)—

(A) by striking or qualified health care property (as so defined), and

(B) by striking or qualified health care property each place it appears in clauses (i), (ii), and (iii)(II).

(c) Effective date. The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

III Protecting workers when companies go bankrupt

IV Closing tax loopholes

V Investor protection and market transparency

VI Restrictions on securitizing risky corporate debt

VII Miscellaneous