NAIOP Urges Congressional Action on Issues Affecting Commercial Real Estate, September 8, 2008
Washington, D.C. – With Congress scheduled to adjourn on set
for September 26, the National Association of Industrial and Office
Properties (NAIOP) implores lawmakers to address key items vital to
the commercial real estate industry immediately upon their return.
Several issues remain unaddressed by Congress to this point, including the extension of several expiring tax provisions of critical importance to NAIOP members and the commercial real estate industry. These “tax extenders” include 15-year tenant improvement depreciation and brownfields remediation expensing. In the past, these provisions have been extended annually. NAIOP urges Congress to immediately pass, on a retroactive basis, these important tax extenders.
“Our members strongly oppose tax increases that would hurt the commercial real estate sector and undermine our economy,” said NAIOP President Thomas J. Bisacquino. “We are confident that Congress will make the right decision and take responsible action on this important matter.”
In addition, Congress must continue to reject any increases that are proposed to comply with House pay-as-you-go requirements that would have a harmful impact upon the commercial real estate sector in particular, and on the nation’s economy as a whole.
Congress' failure to resolve these issues before departing for the year will threaten the ability of companies to plan for future projects with any certainty.
NAIOP will continue to work with leaders in both parties to address the subjects that matter most to its members and the commercial real estate industry as a whole.
# # #
About NAIOP: The National Association of Industrial and Office Properties is the nation’s leading trade association for developers, owners, investors and other professionals in industrial, office and mixed-use commercial real estate. Founded in 1967, NAIOP comprises 17,500 members in 55 chapters throughout the United States and Canada. NAIOP provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. For more information, visit www.naiop.org.
Several issues remain unaddressed by Congress to this point, including the extension of several expiring tax provisions of critical importance to NAIOP members and the commercial real estate industry. These “tax extenders” include 15-year tenant improvement depreciation and brownfields remediation expensing. In the past, these provisions have been extended annually. NAIOP urges Congress to immediately pass, on a retroactive basis, these important tax extenders.
“Our members strongly oppose tax increases that would hurt the commercial real estate sector and undermine our economy,” said NAIOP President Thomas J. Bisacquino. “We are confident that Congress will make the right decision and take responsible action on this important matter.”
In addition, Congress must continue to reject any increases that are proposed to comply with House pay-as-you-go requirements that would have a harmful impact upon the commercial real estate sector in particular, and on the nation’s economy as a whole.
Congress' failure to resolve these issues before departing for the year will threaten the ability of companies to plan for future projects with any certainty.
NAIOP will continue to work with leaders in both parties to address the subjects that matter most to its members and the commercial real estate industry as a whole.
# # #
About NAIOP: The National Association of Industrial and Office Properties is the nation’s leading trade association for developers, owners, investors and other professionals in industrial, office and mixed-use commercial real estate. Founded in 1967, NAIOP comprises 17,500 members in 55 chapters throughout the United States and Canada. NAIOP provides networking opportunities, educational programs, research on trends and innovations and strong legislative representation. For more information, visit www.naiop.org.