APPLICATION OF FIRPTA TO REGULATED INVESTMENT COMPANIES.

SEC. 504. APPLICATION OF FIRPTA TO REGULATED INVESTMENT COMPANIES. (a) In General.—Subclause (II) of section 897(h)(4)(A)(i) (defining qualified investment entity) is amended by inserting “which is a United States real property holding corporation or which would be a United States real property holding corporation if the exceptions provided in subsections (c)(3) and (h)(2) did not apply to interests in any real estate investment trust or regulated investment company” after “regulated investment company”. (b) Effective Date.—The amendment made by this section shall take effect as if included in the provisions of section 411 of the American Jobs Creation Act of 2004 to which it relates.