NAIOP/SFBA Legislative Update

In this issue:

NAIOP Legislative Alert: Another Split-Roll Property Tax Initiative Filed

The recent push in Congress to change the tax treatment of carried interest from capital gains to ordinary income appears to have been defeated for the time being. The carried interest tax hike was part of a larger bill called the "American Jobs and Closing Tax Loopholes Act" (H.R. 4213). The Senate attempted three times to pass the bill, but failed each time to obtain the requisite 60 votes to avoid a filibuster. Both California Senators, D. Feinstein and B.Boxer, voted for the bill.

NAIOP vigorously opposed this bill, at both the national level and the local level. We would like to thank each of our SF Bay Area NAIOP members that contacted their respective representatives to oppose this legislation. This defeat could not have happened without your support and active involvement.

There is a chance that Congress could again try and amend the tax treatment for carried interest. NAIOP, including the Legislative Action Committee for SF Bay Area NAIOP, will continue to monitor any developments pertaining to carried interest legislation.


Thank you for your support on this important matter.

For more information about the legislative action committee, please contact NAIOP