NAR Real Estate Coalition Letter Re ADS Tax Reform to House Ways and Means and the Senate Committee on Finance
Issue Date: September 04, 2019
US HR 0001 - The Tax Cuts and Jobs Act
On September 4, 2019 NAR as part of a coalition of real estate organizations sent a letter to House Ways and Means and the Senate Committee on Finance. The letter requess that Congress correct a drafting oversight in the Tax Cuts and Jobs Act (TCJA) that requires certain multifamily buildings to be depreciated over 40 years as opposed to the congressionally intended 30 years. The letter further requests that this clarification be included in any tax legislation that may be enacted in 2019, so that the multifamily industry can build the 328,000 new apartment units our nation needs annually between 2019 and 2030.