Call-to-Action

The CCIM Institute Legislative Division sends a Call-to-Action memo to all members when there is a time-sensitive policy issue that needs immediate attention. A Call-to-Action urges members to help shape the outcome of pending legislation by sending feedback directly to federal and/or state legislative and regulatory agencies. If you wish to receive these messages, have any questions or would like to request additional information, please contact the CCIM Institute Legislative Liaison at (312) 329-6033 or vyadlapati@ccim.com.

Call-to-Action: Oppose Tax Increase On Commercial Real Estate

House Ways and Means Chairman Charlie Rangel (D-NY) is moving forward with legislation that would make major changes to the tax structure. The bill proposes a massive tax increase for real estate partnerships, raising the tax rate on "carried interest" from 15% to 35%. This legislation would significantly impact commercial real estate projects, most of which are organized in partnerships.

Why this legislation is detrimental to real estate practitioners:

Drives investors to put their money elsewhere such as stocks with much more favorable tax treatment
Diminishes the value and/or put many partnership out of business because the capital would not be there to facilitate them
Creates a disincentive to investing in real estate since many would no longer earn a reasonable profit
Stifles growth in a part of our economy which has become increasingly important over the last several years due to manufacturing, call centers, and other key industries moving offshore
Punishes partners involved with prior arranged transactions by causing a totally different economic result than all partners agreed with in advance
Fails to recognize that real estate investors are involved in their investments daily, while hedge fund managers are not involved daily in their investments.

Contact your U.S. Senators and Representative informing them of your concerns and urge them to oppose the carried interest provision. How to contact your legislators:

1. Look up your Members of Congress and their contact information at the following website: http://capwiz.com/cl/home
2. Introduce yourself in a sentence or two. For instance: I am a constituent and a commercial broker who…
3. Use the bullets (above) on how higher taxes on carried interests would be detrimental to commercial real estate to argue your point. You are encouraged to add your own examples.
4. If you will be faxing your legislators, print your letter on your company letterhead.
5. After contacting your legislators, please notify the CCIM Institute Legislative Liaison, Vijay Yadlapati, by email at vyadlapati@cciminstitute.com

For more information on the issue, read the CCIM Institute Statement of Policy on Carried Interests.

Make your voices heard! Act immediately by contacting your legislators.

Small Business Health Plans

The National Association of REALTORS® issued a Call-to-Action on April 20, 2006, requesting IREM members contact their US Senators in support of S. 1955. On March 15, the Senate Health, Education, Labor and Pensions Committee approved a much amended version of S.1955. Request your US Senators carefully review the bill, particularly changes made to address concerns they may have had with the bill as introduced S.1955 represents more than four months of careful discussion and deliberation involving the major stakeholder groups - insurers, insurance commissioners, and the small business community. Contact your US Senators and ask them to vote YES for S.1955 when it comes to the Senate floor. Visit NAR Action Center to quickly send a letter already written for you.

Speak Out Against a Federal Agency Power Grab

Once again the big banking conglomerates are forcing their way into real estate and they are going around Congress to accomplish it.

The CCIM Institute, in cooperation with the National Association of REALTORS®, requests you speak up and urge Congress to reign in this bank "regulator."

This past December, the Office of the Comptroller of the Currency (the OCC) expanded the authority of certain banks to engage in commercial real estate. As a result, one bank can now build a Ritz Carlton hotel, another is building 32 condos, and a third has permission to own a windmill farm! The OCC has crossed the line between banking and commerce, bringing banks closer to real estate brokerage and management.

Your voice - the voice of the commercial real estate professional - needs to be heard now. Do not let the OCC's decision go unchecked. Urge your lawmakers to contact the OCC about this abuse of power. Take action now through the NAR Action Center.

Call-to-Action: Chairman Oxley Introduces Competing Legislation to the Community Choice in Real Estate Act

House Financial Services Committee Chairman Mike Oxley (R-OH) has introduced legislation allowing national banks to operate in real estate brokerage, leasing and management firms. His bill, H.R. 2660, The Fair Choice and Competition in Real Estate Act, directly conflicts with the Community Choice in Real Estate Act (H.R. 111 & S. 98) which is strongly supported by the CCIM Institute and NAR.

The CCIM Institute opposes changes or interpretations in present federal regulations, which would permit any banks or bank holding companies or subsidiaries to enter the field of property management and real estate brokerage beyond properties owned by these institutions.

The CCIM Institute, IREM and the REALTORS® Commercial Alliance lobbied US Senators and Representatives on this issue during the Commercial Real Estate Capitol Hill Day Visit on April 20, 2005.

In the past five years the CCIM Institute has worked with NAR and has successfully encouraged Congress to sponsor authorizing legislation permanently preventing banks from engaging in real estate. We have been able to encourage a bipartisan majority to cosponsor our legislation. Yet, Congress has not acted on our legislation. As a result, we have had to resort to the appropriations process to win annual provisions barring the Treasury Department from issuing its controversial rule.

The CCIM Institute, in cooperation with NAR, is opposing H.R. 2660 and any effort to advance this bill. NAR has been lobbying Members of the House of Representatives to act now regarding our bill, H.R.111. To be the most effective, members need to call on their members of Congress to support H.R. 111. Commercial brokers and property managers cannot remain silent while big banks attempt to gain control of our industry.

Please take a moment now to write your Representative and either thank him or her for their support of the "Community Choice in Real Estate Act" (H.R. 111 and S. 98) if they are already a cosponsor; or encourage him or her to cosponsor this legislation if they are not. Inform your Member that their support is needed now more than ever. It's easy for you to send a pre-written letter to your Member of Congress using the NAR Action Center. To send your letter visit: http://naractioncenter.com. If you have not registered before it only takes a minute and does not require your NRDS number. Once you register you can quickly send the letter.

Make your voices heard! Send a very strong message to the House of Representatives: Act now and pass H.R. 111. Oppose H.R. 2660.

Call to Action Successes

Thanks to thousands of CCIMs, CPM®s and REALTORS® who personally contacted their Senators via the NAR Action Center and CCIM's Call for Action, the United States Senate on March 10, 2005 passed The Bankruptcy Abuse Prevention and Consumer Protection Act, S. 256. The final vote for passage was 74-25. The CCIM Institute has lobbied this legislation for five years, and once signed into law will benefit with four long-sought after commercial real estate provisions:

• eliminates the cap on single asset bankruptcies;
• provides new protections for shopping center owners;
• closes the loophole which allows rental housing tenants to avoid eviction;
• provides that homeowner and condo association fees be non-dischargeable.

Over 9,300 REALTORS® and CCIMs responded to the Bankruptcy Call for Action. Your active involvement was a key factor in the Senate vote. The bill now moves to the House of Representatives for consideration.

Past Calls-to-Action

Your Immediate Action is Needed -- Response Necessary by March 2!

After long awaited action to be taken on the issue of Bankruptcy Reform, Senate Bill 256 is expected to be heard on the Senate Floor on Monday, February 28, 2005. S. 256 passed the Senate Judiciary Committee late last week but many amendments are likely to be considered on the Floor before final passage.

As a part of the CCIM Institute and real estate community, we ask that you help our efforts to lobby in support of S. 256 by writing your two U.S. Senators from your state. Links to find contact information for your corresponding legislators are provided at the bottom of this note.

Included is a sample letter already drafted to send to your appropriate Congressional leader along with detailed background information. Download sample letter

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In brief, the legislation contains four supported provisions by the Institute:
1. Eliminates the cap on single-asset bankruptcies
2. Provides protections for shopping center owners
3. Closes the loophole which allows rental housing tenants to avoid eviction
4. Requires homeowner and condo association fees to be non-dischargeable

The Institute is strongly committed to legislative advocacy. Through its affiliation with the NATIONAL ASSOCIATION OF REALTORS®, the Institute is part of a legislative advocacy team that consistently monitors and advances issues of public policy to promote and protect the right to own, use and transfer real property. As a CCIM Institute Member, you have access to legislative and regulatory information as well as channels to understand issues and seek solutions to public policy problems.

Learn where the Institute stands on various legislative and regulatory issues at the federal and state levels. The Bulletin, our legislative newsletter, is sent to all members via email and tracks legislative issues that affect those in the commercial real estate industry. View the latest version of the Bulletin.

NAR Action Center

The National Association of REALTORS® (NAR) recently launched the online NAR Action Center which provides members access to the latest federal legislative issues and automatically updates members when action is needed. The CCIM Institute, in cooperation with NAR, is encouraging its members to register at www.naractioncenter.com by March 15. It’s simple and easy to register for this valuable free resource that will keep you informed and up-to-date on the latest issues! Commercial brokers may request to be notified of important legislation commercial in nature such as commercial development and real estate finance. When an issue arises with potential to directly impact your business, I urge you to contact your US Senators and Representative by phone, fax, or email. Let your voice be heard!

In order to register at the NAR Action Center you will need to provide your NRDS number. If you do not know your NRDS number, visit http://www.realtor.org/roreg.nsf/retrieveID?OpenForm to retrieve your number. After entering your last name and social security number or license number on the secure site you will be provided with your NRDS number. If you have your NRDS number on hand you may register immediately.

Please contact the CCIM Institute Legislative Liaison, Vijay Yadlapati, at (312) 329-6033 or vyadlapati@cciminstitute.com if you have, or are planning on, registering at the NAR Action Center as the CCIM Institute Legislative Department is interested in knowing how many CCIM members have registered.

U.S. Senator Link: http://www.senate.gov/general/contact_information/senators_cfm.cfm

Call-to-Action: Support the Creation of the Small Business Health Fairness Act

The CCIM Institute urges you to contact your federal legislators to tell them to support the passage of S. 406, the Small Business Health Fairness Act, sponsored by US Senators Olympia Snowe (R-ME) and Robert Byrd (D-WV). In brief, the legislation contains key provisions supported by the Insitute, which will:

• Create Health Insurance tailored to the needs of a property manager
• Provide you access to the same Health Insurance benefits currently enjoyed by other Americans
• Provide self-employed/contract workers with group rates on Health Insurance
• Make your insurance transferable, even when you change jobs
• Lower Health Insurance costs for property managers

Members of the CCIM Institute, IREM and the REALTORS® Commercial Alliance lobbied their legislators to support this important legislation during their annual Capitol Hill Visit Day which took place April 20, 2005.

As a member of the real estate community you may be aware that employee-sponsored health coverage is becoming harder for businesses to provide for their employees and harder for working families to afford. More than 45 million Americans are uninsured. Approximately 60% of the 45 million uninsured work for small businesses including about one in four REALTORS®. Small businesses have little buying power and few affordable options for providing their employees health insurance. Owners of small businesses are being faced with double digit health care premium increases year after year.
Small business health plans, also known as association health plans, would be regulated under a single set of federally-prescribed rules and the same set of state regulations that large corporations and union health plans are currently regulated. SBHPs would be exempt from complying with state mandated coverage requirements. By allowing small businesses to ban together, SBHPs will increase small businesses' bargaining power with health care providers and lower their overhead costs up to 30%.

Please join the CCIM Institute and the commercial real estate industry in supporting S. 406 by writing your two U.S. Senators. You can quickly send them a message after joining the NAR Action Center if you have not already done so. After registering at www.naractioncenter.com go to the Small Business Health Plans' page for information on how to quickly send your US Senators a fax urging them to support S. 406.