Socal Multiunit Real Estate

URGENT! CONTACT YOUR CONGRESSMAN TO AVOID COMMERCIAL REAL ESTATE TAX HIKES

Action to Oppose More Than Doubling of Taxes on Real Estate Carried Interests

Edited by Jodi Summers

In early December, Congressman Charles Rangel Ways, chairman of the Ways and Means Committee of the House of Representatives, introduced the “Tax Extenders Act of 2009″ (H.R. 4213). Wrapped in this legislation package is a proposal that would more than double the taxes on carried interest received by general partners in real estate partnerships. Under this legislation, carried interest would no longer be taxed as capital gains at 15 percent, but as ordinary income at rates as high as almost 35 percent…making everyone’s investment real estate holdings a lot less sexy.

Kick us while we’re down. Those investing in commercial real estate are already feeling economic distress because of the decline of property values and the lack of loans available. The proposed legislation would more than double the taxes imposed on many real estate entrepreneurs.

If H.R. 4123 enacted into law, this proposal could be the largest modification to the taxation of real estate since the Tax Reform Act of 1986.

This bill was past stealthfully, proposed on December 7^th, it bypassed the customary legislative process, bypassing the House Ways and Means Committee, and going directly to the House floor for a vote on December 9, reducing meaningful opportunities to amend the bill.

Safeguard your real estate assets; communicate with your Congressional Representatives and Senators! Let them know that this tax increase on carried interest will further damage the commercial real estate industry and undermine efforts in their own communities to spur job growth and economic recovery.

http://www.capwiz.com/naiop/issues/alert/?alertid=14439831&type=CO has letters ready to go to your congressmen.

Save your assets and contact them.

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http://www.capwiz.com/naiop/issues/alert/?alertid=14439831&type=CO

http://www.ysop.org/images/Capitol.jpg

NOBEL PRIZE WINNER AL GORE TO SPEAK ON GREEN CONSTRUCTION @ GREENBUILD

NOBEL PRIZE WINNER AL GORE TO SPEAK ON GREEN CONSTRUCTION @ GREENBUILD

Edited by Jodi Summers

Nobel Prize winner and former Vice President Al Gore as the opening keynote speaker for USGBC’s annual Greenbuild International Conference & Expo being held Nov. 11-13, 2009, in Phoenix, Ariz.

“Al Gore’s impressive career and bipartisan outreach have helped elevate global climate change to the main street public consciousness,” said Rick Fedrizzi, President, CEO & Founding Chair, U.S. Green Building Council. “The role buildings play in our lives, our health, the economy and the global environment – including being responsible for 39% of the carbon emitted in the United States – means the built environment is a tremendous opportunity for us to make real change.”

Buildings in the United States are responsible for 39% of CO2 emissions, 40% of energy consumption, 13% water consumption and 15% of GDP per year, making green building a source of significant economic and environmental opportunity. Greater building efficiency can meet 85% of future U.S. demand for energy, and a national commitment to green building has the potential to generate 2.5 million American jobs.

Former Vice President Gore’s keynote address will kick off Greenbuild at the Opening Keynote & Celebration, taking place Nov. 11 at Chase Field, home of the Arizona Diamondbacks. The evening celebration will feature a musical performance by nine-time Grammy winner Sheryl Crow and an address from USGBC President, CEO & Founding Chair, Rick Fedrizzi.

Al Gore has championed awareness and action to confront global climate change since his earliest days in the U.S. Congress 30 years ago, and is regarded for his pioneering role in helping put one of the most important challenges of our time on the map, with his best-selling book and Academy Award-winning documentary, An Inconvenient Truth. In 2007, Gore was jointly awarded the Nobel Peace Prize with the Intergovernmental Panel on Climate Change for his environmental activism. In 1992, Gore published Earth in the Balance: Ecology and the Human Spirit and instituted environmental policy and initiatives in the Clinton-Gore Administration to help safeguard the environment.

Gore is cofounder and chairman of Generation Investment Management and multiplatform media company Current TV. He is a member of the Board of Directors of Apple Computer, Inc. and a senior advisor to Google, Inc. Gore is also Visiting Professor at Middle Tennessee State University in Murfreesboro, Tenn.

Greenbuild is the largest gathering of representatives from all sectors of the green building movement. Previous Greenbuild keynote speakers have included former President Bill Clinton in 2007 and Archbishop Desmond Tutu in 2008.

For more information, visit www.usgbc.org and www.greenbuildexpo.org. To see presentations made at last year’s Greenbuild, visit www.greenbuild365.org.

http://www.usgbc.org/Docs/News/Greenbuild_Gore%20Keynote.pdf

http://www.usgbc-centraltexas.org/Docs/newsletter/January_2009/January2009.html

http://www.andrewblum.net/typepad/2007/01/index.html

http://www.makefive.com/categories/debate/social-change/most-inspiring-people-of-2007