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Carried Interest Passes the House

(BOMA Utah) On Friday, the U.S. House of Representatives passed a slimmed-down version of H.R. 4213, legislation which contains a modified version of the carried interest proposal BOMA International and the rest in the commercial real estate community has been aggressively opposing, by a vote of 215-204. The House bill treats carried interest as 50 percent ordinary income and 50 percent long-term capital gains for two years, then moves to a permanent 25/75 split (25 percent long-term capital gains/75 percent ordinary income) with an effective date of Jan. 1, 2011.
 
The bottom line is fewer buildings develepod equals fewer buildings managed meaning fewer jobs.
 
The U.S. Senate is expected to consider action on the House bill next week. The carried interest tax will threaten millions of good paying jobs that are made possible by commercial real estate development projects. 
 
This affects all commercial buildings (office, medical, industrial, retail, high rise residential, governmental, corporate facilities, educational, etc.).    

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