In This Issue:
State Tuned:
Ways and Means Committee Considers Tax Bill to Include Leasehold Extension
The House Ways and Means Committee is holding a mark-up November 1 of H.R. 3996, the Temporary Tax Relief Act of 2007. As introduced, the bill text includes provisions for temporary alternative minimum tax (AMT) relief, enhanced child tax credit and extension of expiring provisions, including a one-year extension of the 15-year timeline for depreciating leasehold improvements, a BOMA International priority. At press time, BOMA did not know whether or not a tax increase on carried interest was included during the mark-up to help offset the bill’s cost in order to comply with pay-as-you-go budget rules.
Last week, Ways and Means Chairman Charlie Rangel (D-NY) introduced a larger tax package, H.R.3970 - Tax Reduction and Reform Act of 2007, deemed the “mother of all tax bills”, that included a permanent fix to the AMT and a tax increase on carried interest, changing it from the capital gains tax rate of 15% to that of ordinary income at 35%. BOMA International opposes this tax hike as it would have a negative impact on commercial real estate partnerships. Congress will begin consideration of this much larger tax package next year. In the meantime, BOMA urges members to write their representatives and ask that they oppose this tax increase. Please visit the Legislative Action Center to send your email today.
Contact: Jason Todd, 202-326-6356, jtodd@boma.org
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BOMA Staff Member Nominated Honorary Member of ICC
Ron Burton, BOMA’s Vice President – Codes, Standards & Regulatory Affairs, was named an Honorary Member of the International Code Council during the ICC Annual Conference held in Reno, NV, September 30 – October 3. According to ICC policy, Honorary Membership is bestowed on those who “have rendered outstanding service to the ICC” by nomination of the Board of Directors and ratification by the Governmental Member Representatives during an ICC Annual Business Meeting. Burton was recognized for his participation in the development of the first set of ICC code documents, especially his work in the drafting of the International Residential Code, and his continuing participation as a representative of one of CC’s real estate trade organization strategic partners. Congratulations, Ron!
Contact: Ron Burton, rburton@boma.org, 202-326-6350
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Real Estate ISAC to Test National "Alerts" System
BOMA International is one of the 13 organizational members of the Real Estate Information Sharing and Analysis Center (REISAC). Through the REISAC, BOMA works with the U.S. Department of Homeland Security to prevent, detect and respond to terrorist threats and incidents.
At the request of the federal government, the RE ISAC disseminates urgent informational alerts to building owners and operators across the country. These alerts are only sent when the government determines there is a high level of urgency to the threat or warning information. . Past alerts typically coincided with the raising or lowering of the terrorist threat level for the nation as a whole or all or parts of various industries, and have included action-oriented information such as steps to protect people and property. There were no alerts issued in the last 12 months
As a member of BOMA International, you are automatically on the list to receive these Alerts via email.
In December, the REISAC will be conducting a test of its national Alerts system. You will receive an email as part of this test. To help prevent the Alert from getting caught in your spam filter, please add alert@reisac.org to your email address book.
If you have any questions about the Real Estate ISAC, please visit www.reisac.org or contact Dave Johnston at BOMA International.
Contact: Dave Johnston, djohnston@boma.org, 202-326-6357
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Balloting Continues for BOMA Floor Measurement Standards
Balloting on the “Standard Method of Measuring Floor Area in Office Buildings” and the “Standard Methods for Measuring Floor Area in Industrial Buildings” continues until November 12. The first, which is an industry-renowned floor measurement standard, has been produced by BOMA since 1915 and has been officially an accredited American National Standard of the American National Standards Institute (ANSI) since the 1970s.
BOMA is also soliciting any persons with an interest in voting on whether the Standard Methods for Measuring Floor Area in Industrial Buildings should be an ANSI accredited floor measurement standard.
BOMA’s Standard Methods of Floor Measurement Committee is not recommending any change in the floor measurement procedures at this time. BOMA has, however, convened a task force to initiate a revision process for the next generation of floor measurement standard for commercial office buildings.
Any person who has a sincere interest in participating in the voting process for either the Standard Method for Measuring Floor Area in Office or Industrial Buildings is requested to contact Dave Johnston, Director of Codes and Standards, BOMA International.
Contact: Dave Johnston, djohnston@boma.org, 202-326-6357
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Registration for the National Issues Conference Now Open!
Registration for this year’s National Issues Conference is now open! The BOMA International National Issues Conference (NIC) provides a unique opportunity for BOMA members to personally take our message to legislators and regulators in our nation’s capitol. Newly elected legislators and long-time representatives alike are seeking input from commercial real estate professionals and this is your chance to speak out and make a difference.
The conference will take place in Washington, DC, on March 10-11, 2008. The first day of the NIC will feature issue updates and a briefing on the “do’s and don’ts” of lobbying. On day two, you’ll hear from some of your U.S. Senators and Congressmen before heading to Capitol Hill to meet with your elected officials. The NIC is a critical opportunity to discuss legislative issues of importance to your livelihood and to communicate commercial real estate’s message to Congress in a unified fashion. Let your voice be heard! To register and make hotel reservations online, visit www.boma.org/events/nic.
Contact: Lindsay Tiffany, ltiffany@boma.org, 202-326-6365
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Sign-On to the 7-Point Challenge Today
In 2008, the BOMA Conference will be the place to answer a new call-to-action. BOMA's 7-Point Challenge energy plan sets a goal for commercial real estate to reduce use of natural resources, non-renewable energy sources, and waste production, and work in coordination with building management, ownership, and tenants to achieve the following goals:
- Continue to work towards a goal to decrease energy consumption by 30 percent across portfolios by 2012.
- Benchmark energy performance and water usage through EPA’s ENERGY STAR® benchmarking tool.
- Provide education to building managers, building owners and operators, engineers, and others involved in building operations, to ensure that equipment is properly maintained and utilized.
- Perform an energy audit and/or retro-commissioning of buildings and implement low-risk, low-cost strategies to improve energy efficiency with high returns.
- Extend equipment life by improving the operations and maintenance of building systems and ensure equipment is operating as designed.
- Through leadership, positively impact your community and your planet by helping to reduce your industry’s role in global warming.
- Position yourself and the industry as leaders and solution providers to owners and tenants seeking environmental and operational excellence.
Top organizations are already accepting the challenge, including USAA Real Estate. The BOMA Conference will provide insight into no- and low-cost ways your company can contribute to the goals. Even small changes can make a measurable impact.
Budget now to send your entire team to Denver, June 21-24, 2008, and in the meantime, sign-on to this important, industry-wide initiative.
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2008 EER Survey form coming soon...
In 2007, online survey participation hit an all-time high, with 85% of more than 4,500 total buildings using the online survey form. This is good news for BOMA International as the Experience Exchange Report (EER) survey is going paperless in 2008.
The online survey is faster and easier to use than the traditional paper survey form. Past participants will find that the fundamental building demographic information pre-populates when they log on. All they have to do is update their income and expense costs for the current year. And, the online form assures more accurate data collection, saving respondents from follow up calls and e-mails.
Recognizing respondents’ preferences for the online form, BOMA International will NOT print and mail the survey form this year. Instead, past participants will receive a postcard and email notices when the online survey is available. A downloadable PDF of the survey form will be provided on the BOMA Web site, for those who want to fill it out.
Don’t forget to get your copy of the 2007 EER. With 8 income and 12 expense items, including utilities, cleaning, and repairs/maintenance, as well as 65 detailed subcategories, the 2007 EER is commercial real estates only source for precise and accurate benchmarking data. Purchase yours today.
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State Tuned:
AIA Honors BOMA/Hawaii for Codes Work
BOMA/Hawaii was presented with two Certificates of Appreciation from the AIA Hawaii State Council acknowledging the valuable support and contributions of their Government Relations Committee in the adoption of the 2003 International Building Code and the International Residential Code. BOMA/Hawaii’s testimony and support of the new building codes was instrumental in moving these laws forward for the betterment of the building industry and the life safety of building users. The BOMA/Hawaii Government Affairs Committee, chaired by Bill Short, continues to work diligently for the safety and welfare of BOMA/Hawaii members. Congratulations, BOMA/Hawaii!
Contact: Karen Penafiel, kpenafiel@boma.org, 202-326-6323
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