Policy & Public Affairs

The Federal Reserve said today that it would significantly expand its purchases of mortgage backed securities, helping provide liquidity to the nation’s mortgage markets.

Nareit is asking the Treasury Department to respond to the COVID-19 emergency as it has with past disasters.

All committee hearings and floor sessions are also cancelled.

The IRS’ current guidance requires the mix of stock and cash to be 80%/20%.

On Friday, March 13, the Hawaii House Committee on Economic Development and Business held a hearing regarding temporarily disallowing the REIT DPD.

SB 2697 would temporarily disallow the REIT DPD, except when 100% of a REIT’s real property is used to provide affordable housing in Hawaii.

Attendees included member REITs, beneficiaries of Nareit Foundation grants for affordable housing, industry advocates, and policymakers.

The Yes in My Backyard Act encourages localities to eliminate discriminatory land use policies.

IRS private letter rulings issued before the 2017 bill confirmed that the prior limits on cash compensation did not apply to employees of partnerships that had corporations as partners, such as Operating Partnerships of UPREITs.

On Feb. 11, the House Ways & Means Committee held a hearing titled, “The Disappearing Corporate Income Tax.”

Nareit’s commented on the SEC's proposed shareholder proposal amendments and its proposal to require greater transparency of proxy advisor firms.

Kevin Brady (R-TX), the top Republican on the House Ways and Means Committee, mentioned the exploration of REIT investment in infrastructure at a hearing last week.