My Request to Congress for Real Estate Tax Changes

I work everyday with Congress to promote and educate the House and Senate on real estate tax policy

In a letter to Congress yesterday...we asked Congress for the following real estate tax laws...to spur economic recovery!!!

 Modifying REIT rules to allow more private capital to flow to struggling tenants;

Allowing businesses to deduct business expenses paid with forgiven PPP loans;

Creating a temporary tax credit to help businesses meet costs related to preventing the spread of COVID-19;

Removing tax obstacles to private sector debt restructurings and workouts by allowing businesses to exclude COD income if tax attributes, including the basis of assets, are reduced;

Extending the tax exclusion for mortgage debt forgiveness on a principal residence;

Creating a new category of energy-efficient qualified improvement property (E-QUIP) that qualifies for a 10-year cost recovery period;

Reforming and improving Opportunity Zones (definition of a substantial improvement, deadline extensions, codifying the applicable gains rate, partnering with nonprofits and community organizations, and better information reporting and transparency);

Increasing the allocation of low-income housing tax credits;

Providing a new tax credit of up to $15,000 for first-time homebuyers;

Using tax incentives to spur the creation of more housing units;

Developing revenue streams to sustain the Highway Trust Fund;

Restoring the federal tax exemption for certain State and local construction incentives (section 118);

Raising the volume cap on private activity bonds; and

Updating REIT rules to allow REITs to invest in, and operate, more types of infrastructure assets