PUBLIC LAW 106-170—DEC. 17, 1999 113 STAT. 1951 " (5) TREATMENT OF CERTAIN REIT DIVIDENDS. — "(A) IN GENERAL.—Any dividend received from a closely held real estate investment trust by any person which owns (after application of subsections (d)(5) and (1)(3)(B) of section 856) 10 percent or more (by vote or value) of the stock or beneficial interests in the trust shall be taken into account in computing annualized income installments under paragraph (2) in a manner similar to the manner under which partnership income inclusions are taken into account. "(B) CLOSELY HELD REIT. —For purposes of subparagraph (A), the term 'closely held real estate investment trust' means a real estate investm(jnt trust with respect to which 5 or fewer persons own (after application of subsections (d)(5) and (1)(3)(B) of section 856) 50 percent or more (by vote or value) of the stock or beneficial interests in the trust.", (b) EFFECTIVE DATE. —The amendment made by subsection (a) 26 USC 6655 shall apply to estimated tax payments due on or after December 15, 1999. Approved December 17, 1999. note. LEGISLATIVE HISTORY—H.R. 1180 (S. 331): HOUSE REPORTS: Nos. 106-220, Pt. 1 (Comm. on Commerce) and 106-478 (Comm. of Conference). SENATE REPORTS: No. 106-37 accompanying S. 331 (Comm. on Finance). CONGRESSIONAL RECORD, Vol. 145 (1999): Oct. 19, considered and passed House. Oct. 21, considered and passed Senate, amended, in lieu of S. 331. Nov. 18, House agreed to conference report. Nov. 19, Senate agreed to conference report. WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 35 (1999): Dec. 17, Presidential remarks and statement.