APARTMENT ADVOCATE
NATIONAL APARTMENT ASSOCIATION / NATIONAL MULTIFAMILY HOUSING COUNCIL
Clock is ticking for congressional action
Only a handful of weeks remain before the Senate and House leave town for a longer than usual summer recess from mid-July to early September . There is a ton of work left to complete before the 114th Congress adjourns – and much of it could directly impact and shape the future of our industry .
Appropriations Process : Critical to Industry Priorities
Each year , Congress must enact legislation to keep the government running . That process requires that lawmakers first pass a budget resolution and then 12 appropriations bills funding government agencies and their programs . NAA / NMHC pay particular attention to the appropriations process because funding and administrative decisions are made through this process on multifamily-specific policies and programs such as FHA , fair housing , the Americans with Disabilities Act , Section 8 , energy efficiency and building codes .
The appropriations process can also be used to mitigate harmful , burdensome rules and regulations that impact the apartment housing industry like Waters of the U . S . ( WOTUS ), Affirmatively Furthering Fair Housing , disparate impact , lead-based paint , criminal background screening and the recently finalized labor overtime rule .
Tax Reform Negotiations : Fundamental to Multifamily Business
No one expects real progress this year on tax reform , but House and Senate tax writers are
crafting tax reform proposals . In a letter to the Senate Finance Committee on April 26 , NAA / NMHC outlined the apartment housing industry ’ s key priorities for tax reform . Owners , operators and developers of apartment housing have a considerable stake in the outcome of how to reform and simplify the nation ’ s tax code . Industry participants pay federal tax at each stage of an apartment ’ s lifecycle , when properties are built , operated , sold or transferred to heirs .
Both Senate Finance Committee Chairman Orrin Hatch ( R-Utah ) and Ranking Member Ron Wyden ( D-Ore .) have signaled that they are working on reform proposals . Chairman Hatch is seeking to tax income earned by U . S . C corporations a single time while Wyden has offered proposals to overhaul cost recovery rules and the
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