Agenda Summary
National Association of REALTORS®
2012 REALTORS® Conference
The Peabody Orlando
Plaza International J
Thursday, November 8, 2012
12:30 p.m. - 2:00 p.m.
Chair: Max Gurvitch, Green
Vice Chair: Cindy Chandler, CCIM, CRE
Committee Liaison: H. Blaine Walker, CRB, GRI
Committee Executive: Vijay Yadlapati
Purpose: To identify and analyze emerging legislative and regulatory issues that impact commercial real estate; monitor and analyze current and prospective housing issues affecting federal multifamily housing programs and recommends appropriate policy; to develop, communicate, and advocate public policy which benefits the business interest of our commercial members while protecting and enhancing the right to own, use and transfer real property.
I. Call to Order and Opening Remarks
II. Ownership Disclosure and Conflict of Interest Policy
III. Approval of 2012 Midyear Meeting Minutes
IV. Discussion and Approval of 2013 Subcommittee Goals (2012 Goals)
V. Important RPAC and Rally Message
VI. Energy & Environment Issues Update – Duane Desiderio, The Real Estate Roundtable
A. EB-5 Visa Program
The EB-5 Investor Visa is a United States visa program administered by the U.S. Citizenship and Immigration Service that allows foreign nationals to obtain a visa for permanent residence in the United States by investing between $500,000 and $1 million (depending on where the investment is made) and creating or preserving 10 or more American jobs.
Recently Congress passed, and the President signed legislation to reauthorize the EB-5 regional center program for 3 years, through 2015. NAR will continue to work our partners in this area to ensure that the EB-5 program is successful.
B. Energy Efficient Commercial Building Tax Deduction (179D)
The energy efficient commercial building tax deduction (179D) was created in 2005 and will expire on December 31, 2013. The purpose of the deduction is to incentivize newly constructed buildings retrofit buildings to become more energy efficient. While there have been some problems with the complexity and implementation of the deduction, many in the industry see it as a success and believe it should be extended.
C. Commercial Lead Based Paint
Under a settlement agreement between the EPA and various public interest groups, the EPA is required to develop regulations that establish lead safe work practices for renovation, repair and painting (RRP) activities for commercial and public buildings.
Under the original agreement, a proposed RRP rule for the exterior of commercial and public buildings was due on Dec. 15, 2011. This date has been pushed back twice so far, most recently to Sept. 15, 2012. A final rule is due on July 15, 2013, although the delays in issuing the proposed rule will no doubt delay promulgation of the final rule.
D. Commercial Asset-Rating Program
The U.S. Department of Energy (DOE), under its Building Technologies Program seeks to develop a voluntary National Asset Rating Program for Commercial Buildings (AR Program). In August of 2011, the DOE issued a Request for Information seeking input on a proposed AR program. The AR Program would establish an Asset Rating system for commercial buildings based on a national standard and would evaluate the physical characteristics and as-built energy efficiency of these buildings. It would also identify potential energy efficiency improvements. The goal is to facilitate cost-effective investment in energy efficiency and reduce energy use in the commercial building sector.
The DOE is in the process of launching its voluntary pilot program and is now soliciting participants.
VII. Sales Tax Fairness – Dan Wager, The Inland Real Estate Group
Since the Quill ruling, 24 states have simplified their sales tax systems through the Streamlined Sales and Use Tax Agreement (SSUTA). The SSUTA provides one uniform system to administer and collect sales tax, eliminating the burden of the country’s diverse sales tax systems on retailers. However, because this is a matter of interstate commerce, Congressional authorization is still required to allow states to collect taxes from out-of-state sellers and online retailers.
VIII. Commercial Tax Update – Linda Goold, NAR Tax Counsel
IX. Other Business
X. Adjournment
