ADISA Co-Signs Coalition Letters to Include FIRPTA Reform in Highway Trust Fund

Jun 17, 2015

This week, both the House Committee on Ways and Means and the Senate Committee on Finance met to consider the feasibility of various ideas to provide a sustainable, long-term solution to the shortfall in the Highway Trust Fund. Sixteen organizations co-signed Statements for the Record to urge both Committees to consider a simple, cost-effective proposal that would galvanize billions in new private capital for investment in U.S. transportation and infrastructure. Specifically, any long-term highway bill should include reforms to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA), such as those proposed in the Real Estate Investment and Jobs Act of 2015 (S. 915 / H.R. 2128).
The co-signatories of the statements include:
Alternative & Direct Investment Securities Association
American Hotel & Lodging Association
American Resort Development Association
American Society of Interior Designers
Building Owners and Managers Association International
CCIM Institute
Institute of Real Estate Management
International Council of Shopping Centers
International Union of Painters and Allied Trades
Investment Program Association
NAIOP, Commercial Real Estate Development Association
National Apartment Association
National Association of REALTORS®
National Association of Real Estate Investment Trusts
National Multifamily Housing Council
The Real Estate Roundtable
Read the House Committee on Ways and Means Statement for the Record
Read the Senate Committee on Finance Statement for the Record