As commercial property values continue to decline and lenders adopt more restrictive lending standards with lower debt ratios, the commercial real estate industry needs to find vast new sources of capital to remain afloat. In late July, Representative Berkley (D-NV) introduced H.R. 5943, the “Community Recovery and Enhancement Act of 2010,” which would help mitigate the commercial equity gap through incentivizing investment in distressed commercial real estate assets. Under this proposal, investors would receive a one-time 50 percent bonus depreciation on the amount invested into a qualifying distressed commercial asset. NAR will continue to work to help Congress pass this legislation.
LINK: http://www.thomas.gov/cgi-bin/bdquery/z?d111:h.r.05943:
Filed under: Legislative, Membership, News
