Pub. L. 91-650, tit. II, sec. 205

Sec. 205. (a) Title III of article I of the District of Columbia Income and Franchise Tax Act of 1947 (D.C. Code, sec. 47–1557b) is amended by inserting after paragraph (15) of section 3(a) the following new paragraph: “(16) Real estate investment trusts.—In the ease of a real estate investment trust as defined in section 856 of the Internal Revenue Code of 1954, which meets the requirements of section 857(a) of the Internal Revenue Code of 1954, the dividends paid by the real estate investment trust which qualify for the dividends-paid deduction under section 857(b)(2)(C) and section 857(b)(3)(A)(ii) of the Internal Revenue Code of 1954, including dividends considered as having been paid during the taxable year by reason of section 858 of the Internal Revenue Code of 1954.” (b) The amendment made by subsection (a) shall apply with respect to taxable years of real estate investment trusts beginning after December 31, 1970.