On December 18, 2015, President Obama signed into law the Consolidated Appropriations Act, 2016, an omnibus spending bill, with a division referred to as the Protecting Americans From Tax Hikes Act of 2015 (the “Act”), which includes a number of important provisions affecting REITs. While provisions restricting tax-free spinoffs involving REITs and relaxation of certain FIRPTA rules have received the most publicity, there are numerous technical, generally favorable, amendments to the REIT rules. The REIT provisions are summarized below...