Members of the Charlotte Chapter of NAIOP traveled to Washington, D.C., earlier this month to meet with members of Congress about issues critical to North Carolina’s commercial real estate industry. The Capitol Hill visits were part of NAIOP’s annual Chapter Leadership and Legislative Retreat, and gave Charlotte developers a chance to advocate on a range of topics, including:
- Extending 15-year depreciation and cost-recovery periods for qualified leasehold improvements;
- Extending the179D Tax Deduction for the installation of energy-efficient components in commercial buildings;
- Ensuring the preservation of the 1031 like-kind exchange rules in any Tax Reform effort;
- Preventing the taxation of Carried Interest compensation at ordinary income rates;
- Advocating for increased federal investment in our national infrastructure, including roads, ports and bridges;
- Opposing any extension of the EPA’s Waters of the U.S. rule in a manner that would increase development costs and reduce the value of private property; and,
- Encouraging a streamlined approach to the EPA’s wetlands permitting process;
During the course of their visit, NAIOP members met with Senator Thom Tillis, and congressmen Robert Pittenger, Richard Hudson and Mick Mulvaney. All four voted earlier this year to reauthorize the Terrorism Risk Insurance Act (TRIA), and voiced their support for regulatory and tax reform measures that would help reduce costs and uncertainty for commercial development.
Thanks to Charlotte NAIOP members Chris Thomas (Childress-Klein Properties), Clifton Coble (Bissell Development), Barry Leasure (Greer Walker, LLP), Sherrie Chaffin (Trinity Capital), Scott Harris (Choate Construction) and Jim Gamble (Bohler Engineering) for taking time out of their busy schedules to make the trip to Washington!
Filed under: Commercial Issues |