On December 15, 2010, the Senate passed the tax bill, by a vote of 81-19. The bill includes a 2 year extension of the 15 year depreciation period for leasehold improvements as well as a 2 year extension of current capital gains rates and no change to current carried interest tax treatment.
Thank you to our tireless advocates at BOMA International in Washington D.C. for their hard work! The bill now moves on to the House of Representatives where a vote will, most likely, be tomorrow.
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