Code Section 1445

Code Section	Effective Date	Name of Act	Name of Provision	10yr Revenue Estimate ($millions)
897, 1445	*1/1/2012	The American Taxpayer Relief Act of 2012	RIC qualified investment entity treatment under FIRPTA	-60
897, 1445	*1/1/2010	The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010	RIC qualified investment entity treatment under FIRPTA	-59

*Notes on Effective Date

The provision does not apply with respect to the withholding requirement under section 1445 for any payment made before the date of enactment, but a RIC that withheld and remitted tax under section 1445 on distributions made after December 31, 2009 and before the date of enactment is not liable to the distributee with respect to such withheld and remitted amounts.

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RIC qualified investment entity treatment under FIRPTA

Explanation of Provision

The provision extends the inclusion of a RIC within the definition of a ‘‘qualified investment entity’’ under section 897 through December 31, 2013, for those situations in which that inclusion would otherwise have expired after December 31, 2011.

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RIC qualified investment entity treatment under FIRPTA

Explanation of Provision

The provision extends the inclusion of a RIC within the definition of a ‘‘qualified investment entity’’ under section 897 of the Code through December 31, 2011, for those situations in which that inclusion would otherwise have expired at the end of 2009.

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