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New REIT Regulations Proposed, by the IRS

The IRS recently published proposed new regulations regarding what constitutes “real estate investment trust real property,” which aim to provide a more concrete framework for REIT qualification. The agency will accept comments until August 12 and will hold a public hearing on the proposed regulations on September 18.

K Street, Washington, D.C.

Should Cities Enact Land Value Taxes? by Atlantic Cities

A recent Atlantic Cities article suggests a novel way to resolve the “class war” now taking place in San Francisco and other U.S. cities is to enact the land value tax, also known as the Henry George tax. George’s insight centered on a core principle: the value of land is more than just the value of the things on it. A fair way to tax land, he suggested, would be to tax its value rather than the structures built on top of it.

Development 13 in San Diego, CA

Tax, Deficit, Energy: How Federal Legislation Affects Your Business

Hear directly from NAIOP CEO and vice president for federal affairs as they share a valuable overview of major federal public policy initiatives and legislation that could affect the commercial real estate industry, including reform of the tax code, deficit reduction measure, efforts to increase energy efficiency in commercial buildings, and much more. Discuss the considerable implications of federal proposals affecting the industry and the political likelihood for their implementation.

Chris Christie

New Jersey Governor Christie Addresses NAIOP New Jersey Members at Public Policy Symposium

New Jersey Governor Christie Addresses NAIOP New Jersey Members at Public Policy Symposium.

Washington DC Capitol Dome
Washington DC Capitol Dome
Washington DC Capitol Dome

U.S. EPA Issues Information Request

The U.S. Environmental Protection Agency recently published an information request in the Federal Register pertaining to a potential new rule regarding the renovation, repair and painting activities on and in public and commercial buildings.

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House of Representatives Passes Debt-Limit Bill

On Wednesday, January 23 the House of Representatives passed by a vote of 285 to 144 the “No Budget, No Pay Act” (H.R. 325), which would suspend the federal debt ceiling through May 18, 2013. A debt ceiling increase had not been included in the fiscal cliff legislation (The American Taxpayer Relief Act of 2012) enacted on January 2, and a confrontation between Congress and President Obama on raising the debt ceiling was expected by mid-February, when the federal government was expected to reach the limit of its borrowing authority. The Senate is expected to pass the legislation, and President Obama has said he would sign the bill.

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Lew Nominated to Become Next Treasury Secretary

Jacob “Jack” Lew, the current White House Chief of Staff, was nominated last week by President Obama to replace Tim Geithner as Secretary of the Treasury. Lew, who was deeply involved in the negotiations with Congressional Republicans over the debt limit increase in the summer of 2011, has extensive experience on budget matters, having served as Director of the Office of Management and Budget under both President Bill Clinton and under Barack Obama. Unlike Geithner, however, he does not have experience in Wall Street banking and finance, raising concerns among some in the financial sector that he lacks the background need to implement many of the financial reforms promulgated by Congress since 2008. Despite this lack of Wall Street experience, Lew is expected to be confirmed by the Senate Budget Committee.

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Federal Judge Rules Stormwater Runoff is Not a Pollutant

A federal judge in Alexandria, Virginia has ruled in favor of the Virginia Department of Transportation and the Fairfax Board of Supervisors that the U.S. Environmental Protection Agency (EPA) exceeded its regulatory authority by attempting to regulate stormwater runoff flowing into the Accotink Creek watershed as a pollutant through a Total Maximum Daily Load program. U.S. District Court Judge Liam O’Grady agreed with the plaintiffs that water itself is not a pollutant and cannot be regulated by the EPA.

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Fiscal Cliff Legislation

After months of negotiations on how best to avoid the economic consequences of year-end tax increases and mandated budget cuts that collectively became known as the “fiscal cliff,” Congress passed legislation on New Year’s Day that averted tax increases on most Americans, delayed for two-months a scheduled budget “sequester,” and did little to address the nation’s long-term fiscal challenges.

Meridian Cool Springs Mixed-Use Development

Adequate Public Facilities Ordinances: The Challenges of Concurrency

Many growing communities are faced with the challenge of providing public services to their expanding population. This research project examines the legal, economic and social implications of adequate public facilities ordinances.