By Amy Hedgecock, CPM - IREM Legislative and Public Policy Committee Chair
In 2018, IREM members were very active to ensure it was a productive year for our government affairs initiatives.
Advancing IREM’s Legislative Agenda
The year started off with a big win for commercial real estate with the signing of the “Tax Cuts and Jobs Act” in December 2017, the first significant reform of the U.S. tax code since 1986. While not without its controversies, the new legislation lined up favorably with IREM’s priority issues.
Years of advocacy initiatives resulted in the repeal of Section 1031 Like-Kind Exchanges for real property being taken off the table. This success reflected efforts by members who had kept up the long-time fight to preserve like-kind exchanges as a way for owners to defer capital gains taxes when they sell investment property and reinvest the proceeds in similar property.
Our advocacy was also instrumental in preserving carried interest, which for years has been targeted for repeal.
Two other issues that were high priority in 2018, and will continue to be in 2019, were the ADA Education and Reform Act (H.R. 620), which would help end exploitive “drive-by” lawsuits, and the reauthorization of the National Flood Insurance Program (NFIP), which has now been extended through May, 31.
Member Engagement in Advocacy Efforts
Success was also seen with increased member participation in the IREM’s federal advocacy efforts, both in members’ home districts and in Washington, DC. The In-District Meeting program in its second year saw 70 meetings with Congressional Offices – a 50% increase over 2017. Thank you to all members who participated!
IREM on the Hill
These local connections bolstered the message delivered during IREM’s inaugural Congressional Briefing on Capitol Hill where Mindy Gronbeck, CPM, Chair, Legislative and Public Policy and Debbie Prejeant, CPM, Vice-Chair, Legislative and Public Policy, gave presentations regarding ADA drive-by lawsuits, NFIP reauthorization, and emotional support animals to a standing room only crowd of over 60 Congressional staffers.
They also took IREM’s message to the Legislative Counsels for the Chairman and the Ranking Member of the House Committee on Financial Services, which oversees the Department of Housing and Urban Development (HUD) and NFIP.
A second Congressional Briefing is being planned for 2019 to continue building on this success.
Upping the Ante in 2019
Looking at the year ahead, I’m most excited to see IREM expand its influence on the Hill. The Capitol Hill Fly-in will return March 5-6. This event gives all IREM Members the opportunity to tell their stories directly to their legislators and have meaningful dialogue about the issues that impact us most.
In addition to the work being done on Capitol Hill, I urge everyone to continue meeting with their legislators in their district offices, at a chapter event, or a property tour.
The goal in 2019 is to have our voice heard on issues of importance to real estate management industry and have as many IREM members as possible to tell their stories and serve as effective grassroots advocates. With your help, we will strengthen the voice of the property management industry in the halls of Congress.