2009 legislative outlook: Taxes and energy conservation.(IN SESSION)(Brief article)

Climate change and green buildings legislation are expected to be high on the agenda of the 111th Congress and the new administration. IREM will continue to push for market-driven incentives, rather than mandates, to encourage energy-efficient upgrades.

In the tax area, IREM will work with National Association of Realtors (NAR) to retain current capital gains rules as they apply to appreciated property, like-kind exchanges and carried interest, in particular by keeping capital gains tax rates at the existing 15 percent while suspending passive loss rules. Also of importance is to improve the depreciation, depreciation recapture and leasehold improvement rules without triggering the Alternative Minimum Tax. IREM will also work to attract new investment in existing real estate by providing higher income limits and expenditure limits to the so called "smaller investor" provisions of the passive loss rules.

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