Chicago, – August 4, 2015 – (RealEstateRama) — The Institute of Real Estate Management (IREM) recently has contributed to several victories in public policies that will have a positive impact on real estate management professionals and organizations.
- The Marketplace Fairness Act of 2015 (S.698): IREM has been working with the Marketplace Fairness Coalition on legislation that requires remote sellers to collect sales tax. Most recently in March, U.S. Senator Mike Enzi (R-WY) introduced the Marketplace Fairness Act of 2015 (S.698)—legislation IREM supports and lobbied for during the 2015 IREM Capitol Hill Visit Day in April. In July, U.S. House Representatives Jason Chaffetz and Steve Womack introduced similar legislation—the Remote Transactions Parity Act of 2015 (H.R.2775), which requires sellers with sales in a state where they do not have a physical presence to collect and remit sales and use taxes. IREM’s work with the Marketplace Fairness Coalition has proven to be successful in garnering attention and much needed awareness of an issue critical to so many real estate management professionals and IREM members.
- Tenant Star Energy Program: Spanning recent years, IREM has advocated for the passage of a voluntary program to benefit owners and tenants of energy efficient properties. On April 30, President Obama signed into law the Energy Efficiency Improvement Act of 2015 which would establish the Tenant Star Energy Program. As one of IREM’s 2015 Public Policy Priorities, the Tenant Star Program has been a central issue in IREM’s advocacy efforts, and its passage represents a victory for the property management and commercial real estate industry. IREM worked closely with a coalition of approximately 50 industry stakeholders to achieve the enactment of this legislation.
- 179D Tax Deduction: The 179D tax deduction for energy efficient properties which expired at the end of 2014 has been another major policy priority for IREM in 2015. Although the battle is not over, there has been positive momentum recently. In late July, a package that contained language to extend the tax provision for two years was approved by the Senate Finance Committee. The 179D deduction would be extended through 2015 and 2016 and would extend benefits to nonprofits organizations.
About the Institute of Real Estate Management
IREM (www.irem.org) is a global community of real estate professionals dedicated to demonstrating ethical business practices, maximizing the value of investment real estate, and promoting superior management through education and information sharing. IREM believes good management matters and well-managed properties improve the quality of life for people who live, work and shop in them. IREM is an affiliate of the National Association of REALTORS® and the only association serving both the multi-family and commercial sectors. To learn more about IREM, call 800-837-0706, ext. 4650 or if outside the United States, call 312-329-6000. Contact"> or visit www.irem.org.