REIT Investment Diversification and Empowerment Act of 2007

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007 H.R. 6275 Alternative Minimum Tax Relief Act of 2008 H.R. 384 TARP Reform and Accountability Act

Client expense: Not reported · Firm income: $20,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals related to long-term care insurance, including S. 504, Long-Term Care Trust Account Act and S. 897, Alzheimer's Family Assistance Act and H.R. 3363/S. 2337, Long-term Care Affordability and Security Act. Proposals related to the tax treatment of carried interest, including H.R. 2834 and H.R. 3970 and H.R. 3996, and H.R. 6274; H.R. 1147/S. 2002, REIT Investment Diversification and Empowerment Act; H.R. 1424, Emregency Economic Stabiliation Act.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR.1147, REIT Investment Diversification and Empowerment Act of 2007 S.2002, REIT Investment Diversification and Empowerment Act of 2007 HR.5140, Recovery Rebates and Economic Stimulus for the American People Act of 2008 HR. 5720, Housing Assistance Tax Act of 2008 S. 2636, Foreclosure Prevention Act of 2008 HR 3221, American Housing Rescue and Foreclosure Prevention Act of 2008 HR 3396, Sales Tax Fairness and Simplification Act

Client expense: Not reported · Firm income: $60,000

REIT issues (H.R. 1147, S. 2002)

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Thrift Savings Plans S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007- all provisions HR 1937 - Timber Revitalization and Economic Enhancement Act of 2007 - all provisions S.3036 - Lieberman-Warner Climate Security Act of 2007 - provisions related to green buildings and energy efficiency

Client expense: Not reported · Firm income: $30,000

Monitor taxable REIT issues S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007--all provisions HR 6521 - The Federal Housing Finance Regulatory Refor Act of 2008 - provisions related to Real Estate Investment Trusts HR 3221 - Housing and Economic Recovery Act of 2008 - provisions related to Real Estate Investment Trusts Item 16 continued HR 1424 - The Emergency Economic Stabilization Act of 2008 - all provisions

Client expense: Not reported · Firm income: $30,000

Monitor any legislation as it relates to the Thrift Savings Plan S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007- all provisions HR 1937 - Timber Revitalization and Economic Enhancement Act of 2007 - all provisions S.3036 - Lieberman-Warner Climate Security Act of 2007 - provisions related to green buildings and energy efficiency

Client expense: Not reported · Firm income: $30,000

H.R. 3221, American Housing Rescue and Foreclosure Prevention Act of 2008, Tittle II: Reforms Related to Real Estate Investment Trusts, Sections 3031-3071 H.R. 1147, Real Estate Investment Diversification and Empowerment Act, all provisions. S. 2002, Real Estate Investment Diversification and Empowerment Act, all provisions. H.R. 3396, Sales Tax Fairness and Simplification Act, all provisions. S. 34, Sales Tax Fairness and Simplification Act, all provisions.

Client expense: $480,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

REIT issues (H.R. 1147, S. 2002)

Client expense: Not reported · Firm income: $20,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Tax treatment of REITs S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

TSP S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

HR.1147, REIT Investment Diversification and Empowerment Act of 2007 S.2002, REIT Investment Diversification and Empowerment Act of 2007 HR.5140, Recovery Rebates and Economic Stimulus for the American People Act of 2008 HR. 5720, Housing Assistance Tax Act of 2008 S. 2636, Foreclosure Prevention Act of 2008 HR 3221, American Housing Rescue and Foreclosure Prevention Act of 2008 HR 3396, Sales Tax Fairness and Simplification Act

Client expense: Not reported · Firm income: $60,000

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $30,000

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007 H.R. 6275 Alternative Minimum Tax Relief Act of 2008

Client expense: Not reported · Firm income: $60,000

Proposals related to long-term care insurance, including S. 504, Long-Term Care Trust Account Act and S. 897, Alzheimer's Family Assistance Act and H.R. 3363/S. 2337, Long-term Care Affordability and Security Act. Proposals related to the tax treatment of carried interest, including H.R. 2834 and H.R. 3970 and H.R. 3996, and H.R. 6274; S. 349, H.R. 1147/S. 2002, REIT Investment Diversification and Empowerment Act; H.R. 3221, American Housing Rescue and Foreclosure Prevention Act.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Monitor taxable REIT issues S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007--all provisions HR 6521 - The Federal Housing Finance Regulatory Refor Act of 2008 - provisions related to Real Estate Investment Trusts HR 3221 - Housing and Economic Recovery Act of 2008 - provisions related to Real Estate Investment Trusts Item 16 continued HR 1424 - The Emergency Economic Stabilization Act of 2008 - all provisions

Client expense: Not reported · Firm income: $30,000

S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007- all provisions HR 1937 - Timber Revitalization and Economic Enhancement Act of 2007 - all provisions S.3036 - Lieberman-Warner Climate Security Act of 2007 - provisions related to green buildings and energy efficiency

Client expense: Not reported · Firm income: $30,000

Monitor any legislation as it relates to the Thrift Savings Plan S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007- all provisions HR 1937 - Timber Revitalization and Economic Enhancement Act of 2007 - all provisions S.3036 - Lieberman-Warner Climate Security Act of 2007 - provisions related to green buildings and energy efficiency

Client expense: Not reported · Firm income: $30,000

RIDEA TSP S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

Tax treatment of REITs RIDEA S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

Monitor taxable REIT issues S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007--all provisions HR 6521 - The Federal Housing Finance Regulatory Refor Act of 2008 - provisions related to Real Estate Investment Trusts HR 3221 - Housing and Economic Recovery Act of 2008 - provisions related to Real Estate Investment Trusts

Client expense: Not reported · Firm income: $30,000

S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007- all provisions HR 1937 - Timber Revitalization and Economic Enhancement Act of 2007 - all provisions S.3036 - Lieberman-Warner Climate Security Act of 2007 - provisions related to green buildings and energy efficiency

Client expense: Not reported · Firm income: $30,000

Monitor any legislation as it relates to the Thrift Savings Plan S.2002/HR 1147 - REIT Investment Diversification and Empowerment Act of 2007- all provisions HR 1937 - Timber Revitalization and Economic Enhancement Act of 2007 - all provisions S.3036 - Lieberman-Warner Climate Security Act of 2007 - provisions related to green buildings and energy efficiency

Client expense: Not reported · Firm income: $30,000

Proposals related to long-term care insurance, including S. 504, Long-Term Care Trust Account Act and S. 897, Alzheimer's Family Assistance Act and H.R. 3363/S. 2337, Long-term Care Affordability and Security Act. Proposals related to the tax treatment of carried interest, including H.R. 2834, H.R. 3970, H.R. 3996, and H.R. 6274. H.R. 2831, Lilly Ledbetter Fair Pay Act, S. 349, Small Business and Work Opportunity Act, H.R. 1147/S. 2002, REIT Investment Diversification and Empowerment Act. H.R. 3221, American Housing Rescue and Foreclosure Prevention Act.

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1147, REIT Investment Diversification and Empowerment Act, all provisions. S. 2002, REIT Investment Diversification and Empowerment Act, all provisions. H.R. 3396, Sales Tax Fairness and Simplification Act, all provisions. S. 34, Sales Tax Fairness and Simplification Act, all provisions. H.R. 1937, Timber Revitalization and Economic Enhancement (TREE) Act, all provisions. H.R. 5720, Housing Assistance Tax Act of 2008, Title II: Reforms Related to Real Estate Investment Trusts, Sections 201-241. H.R. 3221, American Housing Rescue and Foreclosure Prevention Act of 2008, Title II: Reforms Related to Real Estate Investment Trusts, Sections 3031-3071.

Client expense: $670,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Natl Economic Council (NEC), SENATE, Treasury, Dept of

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007 H.R. 6275 Alternative Minimum Tax Relief Act of 2008

Client expense: Not reported · Firm income: $80,000

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $30,000

REIT issues (H.R. 1147, S. 2002)

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR.1147, REIT Investment Diversification and Empowerment Act of 2007 S.2002, REIT Investment Diversification and Empowerment Act of 2007 HR.5140, Recovery Rebates and Economic Stimulus for the American People Act of 2008 HR. 5720, Housing Assistance Tax Act of 2008 S. 2636, Foreclosure Prevention Act of 2008 HR 3221, American Housing Rescue and Foreclosure Prevention Act of 2008

Client expense: Not reported · Firm income: $60,000

S.34, H.R.3396, "The Sales Tax Fairness and Simplification Act," to promote simplification and fairness in the administration and collection of sales and use taxes. All provisions. H.R.2014 and S.1361, amends the Internal Revenue Code of 1986 to permanently extend the 15 year recovery period for the certain leasehold improvements. H.R.3080, "America's Brownfield Cleanup Act," amends the Internal Revenue Code of 1986 to provide tax incentives for the remediation of contaminated sites. H.R.1753, amends the Internal Revenue Code of 1986 to make the expensing of environmental remediation costs permanent law and to repeat the recapture of such expenses under Section 1254 of such code. H.R.2834, amends the Internal Revenue Code of 1986 to treat income received by partners for the performing investment management services as ordinary income for the performance of services. The commercial building tax reduction provisions (Section 1331) of the Energy Policy Act of 2005 (Public Law 109-58). H.R.2776, Title I, Section 101 (to extend tax incentives for renewable power generation) and Section 103 (to extend the energy tax credit for investment in solar energy) and Section 213 (to extend the tax deduction for energy efficient commercial building expenditures). H.R.2776 was appended to H.R.3221. Legislative concept to extend IRS Code Section 118 to apply to partnerships, no bill introduced at present. Estate tax compromise legislation, no bill introduced at present. H.R.1147/H.R.2002, "REIT Investment Diversification and Empowerment Act of 2007." H.R.5351, "Renewable Energy and Energy Conservation Tax Act," Section 103 to extend investment tax credit for solar energy through 2016. H.R. 6078, "Green Resources for Energy Efficient Neighborhoods Act of 2008."

Client expense: $240,000 · Firm income: Not reported

H.R. 1147, REIT Investment Diversification and Empowerment Act, all provisions. S. 2002, REIT Investment Diversification and Empowerment Act, all provisions. H.R. 3396, Sales Tax Fairness and Simplification Act, all provisions. S. 34, Sales Tax Fairness and Simplification Act, all provisions. H.R. 1937, Timber Revitalization and Economic Enhancement (TREE) Act, all provisions.

Client expense: $670,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $30,000

HR.1147, REIT Investment Diversification and Empowerment Act of 2007 S.2002, REIT Investment Diversification and Empowerment Act of 2007 HR.5140, Recovery Rebates and Economic Stimulus for the American People Act of 2008

Client expense: Not reported · Firm income: $60,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 1147 REIT Investment Diversification and Empowerment Act of 2007 S. 2002 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $80,000

H.R. 1147, general issues relating to real estate investment trusts.

Client expense: Not reported · Firm income: Not reported

H.R. 1147, REIT Investment Diversification and Empowerment Act, all provisions. S. 2002, REIT Investment Diversification and Empowerment Act, all provisions. H.R. 3396, Sales Tax Fairness and Simplification Act, all provisions. S. 34, Sales Tax Fairness and Simplification Act, all provisions. H.R. 1937, Timber Revitalization and Economic Enhancement (TREE) Act, all provisions.

Client expense: $670,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

REIT issues (H.R. 1147, S. 2002)

Client expense: Not reported · Firm income: $20,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Tax treatment of REITs RIDEA S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

RIDEA TSP S 2002 REIT Investment Diversification and Empowerment Act of 2007 HR 1147 REIT Investment Diversification and Empowerment Act of 2007

Client expense: Not reported · Firm income: $70,000

Proposals related to long-term care insurance, including S. 504, Long-Term Care Trust Account Act and S. 897, Alzheimer's Family Assistance Act and H.R. 3363/S. 2337, Long-term Care Affordability and Security Act. Proposals related to the tax treatment of carried interest, including H.R. 2834 and H.R. 3970 and H.R. 3996, H.R. 2831, Lilly Ledbetter Fair Pay Act, S. 349, Small Business and Work Opportunity Act, H.R. 1147/S. 2002, REIT Investment Diversification and Empowerment Act.

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S.34, H.R.3396, "The Sales Tax Fairness and Simplification Act," to promote simplification and fairness in the administration and collection of sales and use taxes. All provisions. H.R.2014 and S.1361, amends the Internal Revenue Code of 1986 to permanently extend the 15 year recovery period for the certain leasehold improvements. H.R.3080, "America's Brownfield Cleanup Act," amends the Internal Revenue Code of 1986 to provide tax incentives for the remediation of contaminated sites. H.R.1753, amends the Internal Revenue Code of 1986 to make the expensing of environmental remediation costs permanent law and to repeat the recapture of such expenses under Section 1254 of such code. H.R.2834, amends the Internal Revenue Code of 1986 to treat income received by partners for the performing investment management services as ordinary income for the performance of services. The commercial building tax reduction provisions (Section 1331) of the Energy Policy Act of 2005 (Public Law 109-58). H.R.2776, Title I, Section 101 (to extend tax incentives for renewable power generation) and Section 103 (to extend the energy tax credit for investment in solar energy) and Section 213 (to extend the tax deduction for energy efficient commercial building expenditures). H.R.2776 was appended to H.R.3221. Legislative concept to extend IRS Code Section 118 to apply to partnerships, no bill introduced at present. Estate tax compromise legislation, no bill introduced at present. H.R.1147/H.R.2002, "REIT Investment Diversification and Empowerment Act of 2007." H.R.5351, "Renewable Energy and Energy Conservation Tax Act," Section 103 to extend investment tax credit for solar energy through 2016. House Financial Services Committee discussion draft for Energy Efficiency, Sustainable Development and Renewable Energy Bill, circulated by Representative Perlmutter.

H.R. 1677 - Taxpayer Protection Act of 2007 - Amends Internal Revenue Code provisions relating to tax administration and taxpayer protections including an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest. H.R. 1147 - REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the maximum value of a REIT's total assets than may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets. H.R. 1813 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1850 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. H.R. 2014 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. H.R. 2419 - Farm Bill Extension Act of 2007 - includes a provision that would catagorize what is considered a "like-kind" exchange under IRS section 1031. It would prohibit as like-kind the exchange of improved property for non-improved farm land. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income income received by a partner from an investment services partnership interest; also known as carried interest. H.R. 3221 - Housing bill which includes a $7000 tax rebate for homeowners who purchase a foreclosed home as well as a provision that allows for carryback losses in taxes. H.R. 5643 - First-Time Homebuyers' Tax Credit Act of 2008 - Amends the Internal Revenue Code to allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers). H.R. 5565 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent. S. 1078 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. S. 1361 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S. 1624 - Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services. S. 1988 - First-Time Homebuyers' Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers). S. 2566 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.

Tax Proposals on REITs RIDEA S 2002 HR 1147

Client expense: Not reported · Firm income: $120,000

Leasehold Improvement Depreciation Act of 2007, H.R. 2014 Publicly Traded Partnership Legislation, S. 1624 REIT Investment Diversification and Empowerment Act, H.R. 1147 and S. 2002 Timber Revitalization and Economic Enhancement (TREE) Act, H.R. 1937

Client expense: $1,369,000 · Firm income: Not reported

Government targets: Federal Retirement Thrift Investment Board, HOUSE OF REPRESENTATIVES, SENATE

H.R. 1147 Real Estate Investment Diversification and Empowerment Act

Client expense: Not reported · Firm income: $160,000