Firpta taxes gains from foreign sales of assets including buildings, land, mines and timber, as well as stock in real-estate companies.

WSJ: Tax Plan May Provide Real-Estate Boost

Firpta had led a number of investors to change their strategies to investing in real-estate debt in the U.S. rather than equity, said Ben Sanderson of Hermes Real Estate Investment Management Ltd.

WSJ: Tax Plan May Provide Real-Estate Boost

Jim Fetgatter, chief executive of the Association of Foreign Investors in Real Estate, said the move to revise the law showed investors for the first time that the White House understands the impact of Firpta.

WSJ: Tax Plan May Provide Real-Estate Boost