Thursday, April 18, 2013

BOMA International Advocacy Update - President's Budget Would Increase Carried Interest Tax & Lead Paint Rulemaking Comments

President’s Budget Would Increase Carried Interest Tax

President Obama recently released his budget plan for fiscal year 2014. The President’s plan once again proposes to tax carried interest as ordinary income rather than as a capital gain. The Administration expects this tax increase to raise $16 billion over 10 years. The budget also proposes to build upon the Better Buildings Initiative by leading through federal energy efficiency and the “Green Button” initiative, which strives to improve energy data access for consumers. 

Comments Given to EPA on Lead Paint Rulemaking

On April 1, the Commercial Properties Coalition, of which BOMA International is a member, provided comments on EPA’s Request for Information and Advance Notice of Public Hearing regarding its 'Lead; Renovation, Repair, and Painting Program for Public and Commercial Buildings.' The EPA specifically asked for industry to provide information and research prior to a public hearing that EPA has scheduled for June 26, 2013.

While EPA is still at an early stage in the rulemaking process, they have indicated that the Program’s reach may cover buildings that are: 
  • constructed before 1978 and owned by federal, state, local or municipal governments; 
  • owned by the private sector, without regard to vintage or age of construction; 
  • leased in whole or in part by the federal government, the largest commercial office tenant in the country; 
  • occupied by women of child-bearing years, or men that may be prone to hypertension; 
  • sites of interior renovations where more than six square feet of painted surfaces are disturbed per room; or 
  • sites of exterior renovations where more than 20 square feet of painted surfaces are disturbed. 
In short, just about every commercial structure in the country might be subject to its regulatory oversight.

The Coalition’s comments may be found online.

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