IREM Capitol Hill Visit Day


Recap of the 2014 IREM Capitol Hill Visit Day, co-sponsored by CCIM Institute

More than 250 IREM and CCIM Institute Members travelled to Capitol Hill to meet with Congressional Members at the 2014 IREM Capitol Hill Visit Day, co-sponsored by CCIM Institute.  Members had a very successful day on the “Hill” as they participated in more than 160 scheduled meetings, representing 31 states.  IREM and CCIM Institute Members met with legislators to discuss three important industry topics – taxes (including depreciation, depreciation recapture, and like-kind exchanges), federally assisted housing, and terrorism risk insurance.

IREM and CCIM Institute members advocated for reauthorization of the Terrorism Risk Insurance Act, which is set to expire December 31st.  On April 10th, a key group of bipartisan senators reached an agreement to extend TRIA into the next decade by negotiating and increase in the amount private insurance companies would have to pay.  The bill is cosponsored by Chuck Schumer (D-NY), Dean Heller (R-Nev), Mark Kirk (R-Ill), Mike Johanns (R-Neb), and Jack Reed (D-RI).   There are still reservations in the House about the terms under which TRIA should be extended and how long, but this is certainly a major development.

Our other issues we advocated for on the Hill, federally assisted housing and taxes, continue to be hotly debated among legislators and we will continue to monitor and provide updates on them.  Overall, Members of Congress were receptive to our stances, and several have requested more information from us on the issues.  If your congressperson has requested more information, you need any more help with follow-up activities, or you have any general policy-related questions, please don’t hesitate to contact us!  (IREM Govt. Affairs Liaison Mike Toner:

Virtual copy of the leave behind
Template for the Thank You letter

The IREM staff and legislative department want to extend a hearty ‘thank you’ to everyone who participated and made this event a success. Without your dedication, persistence, and passion, our issues would not have the voice they have today.