ADISA Co-Signs Coalition Letter to Clinton Campaign Regarding Section 1031

Sep 12, 2016

ADISA joined other real estate and land conservation organizations to co-sign a letter to Secretary of State and Democratic Presidential Nominee Hillary Clinton urging her to preserve the tax law’s longstanding treatment of Like-Kind Exchanges (under section 1031 of the tax code).
As the Clinton campaign continues to roll out its economic policy initiatives, which includes a commitment to leveling the playing field for small business and entrepreneurs, it is actively considering repealing or imposing limits on section 1031 as a revenue offset for other policy initiatives. The letter stresses that Like-Kind Exchanges are a powerful tool that accelerate domestic investment and broad-based job growth, while also contributing to critical land conservation efforts, and that they are one of the few business-related tax incentives available to and used by taxpayers of all sizes, including individuals, partnerships, limited liability companies, and corporations.
The letter emphasized that like-kind exchange rules generate broad economic and environmental benefits by helping small businesses grow and expand; spurring investment and job growth; and providing a valuable incentive for land conservation. The Clinton campaign was urged to include the preservation of like-kind exchanges, without any limitation on gain deferral, as an important component of its economic agenda.
The organizations who signed the letter include:
Alternative & Direct Investment Securities Association
American Farmland Trust
American Land Title Association
American Resort Development Association
American Seniors Housing Association
Asian American Hotel Owners Association
Building Owners and Managers Association International
CCIM Institute
The Conservation Fund
Federation of Exchange Accommodators
Institute of Real Estate Management
International Council of Shopping Centers
Investment Program Association
Land Trust Alliance
NAIOP, Commercial Real Estate Development Association
National Alliance of Forest Owners
National Apartment Association
National Association of Home Builders
National Association of Real Estate Investment Trusts
National Association of REALTORS®
National Multifamily Housing Council
The Nature Conservancy
Peconic Land Trust
Real Estate Roundtable
REALTORS® Land Institute
Society of Industrial and Office REALTORS®
You can read letter here.