BOMA San Francisco Members:
Attempt to Add Tax "Extenders" to Senate Transportation Bill Fails
Earlier this week the Senate began its consideration of Surface Transportation Bill S.1813. During the debate, Senator Pat Roberts (R–Utah) proposed an amendment that included, among other things, an extension for 2012 of the package of tax "extenders" that expired at the end of 2011 and includes the 15–year timeline for depreciating leasehold improvements. Though the amendment failed by a vote of 41–57, it raises the visibility and urgency for tax certainty. BOMA International will continue to push for an extension of this provision and explain the need for passing the "extenders" as soon as possible.
Senate Legislation Would Limit EPA’s Regulation of Lead
On March 1, Sen. James Inhofe (R–Okla.) introduced S. 2148, the "Lead Exposure Reduction Amendments Act of 2012," to amend the Toxic Substances Control Act relating to lead-based paint renovation and remodeling activities. The intent of the legislation is to clarify some outstanding issues related to recent regulations that have already gone into effect for residential real estate and to apply them to any future rulemaking for commercial buildings. The legislation would also prohibit the U.S. Environmental Protection Agency (EPA) from proposing any new regulation applicable to target housing or commercial and public buildings until the EPA conducts a study demonstrating the need for such an action. BOMA hopes to see a companion bill introduced in the House of Representatives within the next month.