A bill to amend the Internal Revenue Code of 1954 to exempt from taxation corporations or trusts which acquire and manage real property for certain exempt organizations, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to grant tax-exempt status to corporations or trusts which acquire and manage real property for certain other tax-exempt organizations. Sets forth certain criteria to be met by such corporations and trusts in order to qualify for tax-exempt status. Exempts such corporations or trusts from the application of the acquisition indebtedness rules applicable to the unrelated business income of tax-exempt organizations.…