Proposal, part of bid to extend expired tax breaks, aims at a maneuver espoused by many activists
By Richard Rubin and Liz Hoffman | The Wall Street Journal
House Republicans are trying to curtail a popular technique that lets companies spin off their property holdings into real-estate investment trusts, a trend promoted by activist investors.
The surprise move came as part of a 175-page, year-end catchall tax bill released late Monday that could pass the House this week. The new rule, which would raise $4.3 billion for the government over the next decade, would apply to all deals closing on or after Dec. 7, no matter when President Barack Obama signs the bill.
