Economic stimulus package--investment provisions.(IN SESSION)

In February of this year, President Obama signed H.R. 1, the "American Recovery and Reinvestment Act of 2009." The bill includes $787 billion in spending and tax cuts. Commercial real estate is supported through provisions focusing on green building and energy efficiency, as well as business tax incentives. The bill provides significant funds for state energy programs, which could be used to support commercial property owners' investment in energy-efficiency upgrades and alternative energy systems. Below are highlights of the investment provisions of particular interest to the commercial real estate industry.

* COMMERCE: $4.7 billion for the Broadband Technology Opportunities Program (BTOP) to accelerate broadband deployment in underserved areas and $650 million for additional implementation and administration of the digital TV convertor box coupon program.

* GREEN BUILDINGS AND ENERGY EFFICIENCY: $6.3 billion for energy efficiency grant programs, including $3.2 billion for the energy and conservation block grants administered by the Department of Energy (DOE) and $3.1 billion for the State Energy Program (SEP). Commercial property owners seeking funds or tax breaks to offset the cost of energy-efficiency upgrades will need to apply through city and state government programs, which will receive funds under the stimulus bill.

* ENVIRONMENT: $200 million in competitive grants for the cleanup of leaking underground storage tanks and $100 million in competitive grants for Brownfields cleanup. Additionally, the bill provides a total of $6 billion for both the Clean Water State Revolving Funds (CWSRF) and Drinking Water State Revolving Funds (DWSRF).

* HOUSING: $4 billion for the Public Housing Capital Fund which will assist public housing authorities in rehabilitating and retrofitting public housing units, including increasing the energy efficiency of units and making critical safety repairs. For those who manage affordable or assisted housing, the bill provides $2.25 billion for rental assistance and grants or loans for energy and green retrofit investments.

* RURAL DEVELOPMENT: $1.38 billion additional funding for the rural utilities service loans and grants for water and waste disposal facilities. It also provides $130 million additional funding for loans and grants for essential rural community facilities, including hospitals, health clinics, health and safety vehicles and equipment, public building, and child and elder care facilities.

* TRANSPORTATION: $48 billion for transportation-related infrastructure projects, including highway and bridge construction, transit new construction, upgrades and repairs, and high-speed rail corridors.

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