Elimination of qualified REIT dividends from qualified business income

(a) In general Subparagraph (B) of section 199A(b)(1) of the Internal Revenue Code of 1986 is amended by striking qualified REIT dividends and. (b) Conforming amendments (1) Section 199A(c)(1) of such Code is amended by striking qualified REIT dividends or in the last sentence. (2) Section 199A(e) of such Code is amended by striking paragraph (3) and by redesignating paragraph (4) as paragraph (3). (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.