Nareit Developments Revised California “Split Roll” Property Tax Initiative Formally Qualifies for November 2020 Ballot Backers hope to increase property taxes notwithstanding many closed businesses from pandemic-induced crisis. 06/01/2020
Nareit Developments California Bill Allowing Commercial Tenants to Renegotiate and Terminate Leases Advances in Senate California Senate Judiciary Committee passes SB 939; bill advances to Senate Appropriations Committee. 05/31/2020
Nareit Developments House Passes Paycheck Protection Program Flexibility Act 417-1 HR 7010 would ease restrictions for borrowers of PPP loans. 05/30/2020
Nareit Developments Nareit Joins Coalition Opposing California Legislation that Would Negate Many Commercial Leases SB 939 would allow many commercial tenants to defer rents for more than one year. 05/18/2020
Nareit Developments Nareit Joins with Other Groups Asking the Treasury Department to Clarify Temporary Like-Kind Exchange Relief The letter seeks clarification that the deadline extension relief be automatic but not mandatory. 04/20/2020
Nareit Developments Nareit Joins with Other Groups Asking the Treasury Department for Temporary Like Kind Exchange Relief Nareit is asking the Treasury Department to respond to the COVID-19 emergency as it has with past disasters. 03/23/2020
Nareit Developments Nareit Comments on Revised Section 337(d) Proposed “Built-in Gain” Regulations Comments recommend narrowing of IRS proposal to impose immediate tax on “built-in gains” upon mergers of non-REIT C corporations that have engaged in tax-free spin-offs into existing REITs. 05/13/2019
Nareit Developments Nareit and other Trade Associations Ask the Heads of the Tax-Writing Committees to Depreciate Energy Efficiency Costs Over 10 Years Proposal would encourage energy efficiency upgrades in both non-residential and residential properties. 05/10/2019
Nareit Developments Nareit Urges Congress to Co-Sponsor Legislation Restoring Depreciation Recovery Period for QIP Coalition calls for restoration of 15-year depreciation recovery period for Qualified Improvement Property. Bipartisan, bicameral legislation also would apply a 20-year recovery period if taxpayers elect out of the new interest deduction limitation. 04/29/2019
Nareit Developments Hawaii Senate Ways and Means Committee Passes Anti-REIT Bill Nareit continues to vigorously oppose Hawaii REIT legislation. 02/11/2019
Nareit Developments Nareit Submits Comments on Proposed Qualified Opportunity Zone Regulations The comments recommend clarifications regarding deferral of certain real estate gains and REIT capital gain dividends. 01/04/2019
Nareit Developments Nareit Submits Comments to IRS on Forms 1120-REIT and 8875 Suggestions meant to improve “the quality, utility, and clarity” of the information collected by the forms. 12/13/2018
