Legislative Actions

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NAIOP-supported Actions and Legislation Letters

  • Business coalition letter supporting proposal by Sens. Marco Rubio (R-FL) and Susan Collins (R-ME) that would provide financial relief to small businesses that represent many of the tenants in commercial real estate properties.
    • This language was largely included in the final agreement of the “Phase III” stimulus legislation (Division A, Title I).
  • Real estate coalition letter urging the Treasury Department to allow for flexibility like-kind exchange deadlines.
    • Specifically, the letter asks for the deadlines to identify replacement and/or complete a like-kind exchange be extended to the later of 120 days, or to the last day of the general disaster period.

  • Real estate coalition letter in support of the Federal Reserve and Treasury Department’s decision to revive the Term Asset Backed Securities Facility (TALF), with recommendations on how best to expand the TALF, and adjust the facility’s terms in response to current market dynamics.

  • Real estate coalition letter to the National Association of Insurance Commissioners urging issuance of guidance clarifying that temporary forbearance, deferrals, or modifications of mortgage loans in response to the COVID-19 outbreak will not trigger treatment as a restructured or delinquent loan, for accounting purposes.

  • Real estate coalition letter urging the creation of a COVID-19 recovery fund, aimed at providing tailored federal assistance to affected business and individuals in a streamlined manner, while also ensuring transparency and oversight.
    • Modeled after 9/11 Victims Compensation Fund legislation, the fund would protect lost wages for employees unable to work because of COVID-19 illness, and support the recovery of businesses through solvency assistance, among other important relief initiatives.
  • Real estate coalition letter to the National Association of Insurance Commissioners requesting clarifications and modifications to interim risk-based guidance.

  • Real estate coalition letter to the Department of Treasury and Small Business Administration urging issuance of additional guidance to ensure certain passive businesses owned by real estate developers and landlords are eligible for Paycheck Protection Program loans.

  • Business coalition letter urging Congress to authorize additional funding for the Paycheck Protection Program.

  • Real estate coalition letter to the Department of Treasury urging additional guidance on the extension of certain deadlines applicable to like-kind exchanges.

  • Business coalition letter to Congress urging funding for the establishment and expansion of virtual permitting, inspections, access to codes and standards, and other capabilities.

  • America’s Recovery Fund Coalition letter to Congress outlining fund concept and objectives.

  • Real estate coalition letter to members of Congress proposing various modifications to the Opportunity Zone program designed to spur further investment in distressed communities in the wake of the COVID-19 outbreak.

  • Business coalition letter to the National Association of Insurance Commissioners requesting an extension of the modification period outlined in interim risk-based capital guidance, issued March 27.

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