Revitalizing Downtowns and Main Streets Act

"Carried Interest Fairness Act" and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Equal Tax Act (H.R. 5336) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property, nonresidential property, and bonus depreciation Low-income housing tax credit and the Affordable Housing Credit Improvement Act Proposed and final tax regulations under section 897 (FIRPTA domestically controlled REIT rules) 892 (Foreign government tax exemption), including proposed regulations REIT rules, including investments in related parties Capital gains tax rate 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including the PARTNERSHIPS Act (s. 2095) and Basis Shifting is a Rip Off Act (S. 2094) Opportunity Zone reform, reporting, and transition rules Revitalizing Downtowns and Main Streets Act and tax incentives for property conversions (HR 9002) Business interest deductibility, section 163(j), and the real property trade or business election, including guidance related to modifying prior elections Active loss limitation and section 461(l)(Excess Business Losses) SECA limited partner exception under section 1402(a)(13) Immediate expensing of qualified production property Retaliatory Tax Measures and Proposed Section 899 Tax treatment of demolition costs and demolished buildings American Homeowner Act (S. 3904) regarding taxation of single-family rental homes and institutional owners of housing Wealth tax proposals, including H.R. 8085

Client expense: $1,011,072 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Transportation, Dept of (DOT), Treasury, Dept of, White House Office

H.R. 1 One Big Beautiful Bill Act" Energy efficiency and clean energy tax incentives, including the E-QUIP Act and Inflation Reduction Act, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) Fair Accounting for Condominium Construction Act (HR 4280) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property Low-income housing tax credit and the Affordable Housing Credit Improvement Act (S 1557 and HR 3238) Proposed and final tax regulations under section 897 and 892 (FIRPTA domestically controlled REIT rules) REIT rules, including investments in related parties Retail Revitalization Act of 2023 (HR 3749) Cancellation of Indebtedness income (section 108) (HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions (HR 5761, Opportunity Zones Transparency, Extension and Improvement Act) Revitalizing Downtowns Act and tax incentives for property conversions (HR 9002) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act and issues related to extension of TCJA Business interest deductibility and section 163(j) Active loss limitation and section 461(l) S. 2518, Ending Tax Breaks for Massive Sovereign Wealth Funds Act S. 2224, Stop Predatory Investing Act Treasury guidance: partnership basis-shifting transactions SECA limited partner exception under section 1402(a)(13) Tax and revenue provisions in the budget resolution Deductibility of state and local business taxes, including property taxes (Business SALT)

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

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

H.R. 1 One Big Beautiful Bill Act" Energy efficiency and clean energy tax incentives, including the E-QUIP Act and Inflation Reduction Act, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) Fair Accounting for Condominium Construction Act (HR 4280) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property Low-income housing tax credit and the Affordable Housing Credit Improvement Act (S 1557 and HR 3238) Proposed and final tax regulations under section 897 and 892 (FIRPTA domestically controlled REIT rules) REIT rules, including investments in related parties Retail Revitalization Act of 2023 (HR 3749) Cancellation of Indebtedness income (section 108) (HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions (HR 5761, Opportunity Zones Transparency, Extension and Improvement Act) Revitalizing Downtowns Act and tax incentives for property conversions (HR 9002) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act and issues related to extension of TCJA Business interest deductibility and section 163(j) Active loss limitation and section 461(l) S. 2518, Ending Tax Breaks for Massive Sovereign Wealth Funds Act S. 2224, Stop Predatory Investing Act Treasury guidance: partnership basis-shifting transactions SECA limited partner exception under section 1402(a)(13) Tax and revenue provisions in the budget resolution Deductibility of state and local business taxes, including property taxes (Business SALT)

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

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

H.R. 1 One Big Beautiful Bill Act" Energy efficiency and clean energy tax incentives, including the E-QUIP Act and Inflation Reduction Act, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) Fair Accounting for Condominium Construction Act (HR 4280) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property Low-income housing tax credit and the Affordable Housing Credit Improvement Act (S 1557 and HR 3238) Proposed and final tax regulations under section 897 and 892 (FIRPTA domestically controlled REIT rules) REIT rules, including investments in related parties Retail Revitalization Act of 2023 (HR 3749) Cancellation of Indebtedness income (section 108) (HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions (HR 5761, Opportunity Zones Transparency, Extension and Improvement Act) Revitalizing Downtowns Act and tax incentives for property conversions (HR 9002) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act and issues related to extension of TCJA Business interest deductibility and section 163(j) Active loss limitation and section 461(l) S. 2518, Ending Tax Breaks for Massive Sovereign Wealth Funds Act S. 2224, Stop Predatory Investing Act Treasury guidance: partnership basis-shifting transactions SECA limited partner exception under section 1402(a)(13) Tax and revenue provisions in the budget resolution Deductibility of state and local business taxes, including property taxes (Business SALT)

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

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

"Carried Interest Fairness Act" and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act and Inflation Reduction Act, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) Fair Accounting for Condominium Construction Act (HR 4280) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property Low-income housing tax credit and the Affordable Housing Credit Improvement Act (S 1557 and HR 3238) Proposed and final tax regulations under section 897 and 892 (FIRPTA domestically controlled REIT rules) REIT rules, including investments in related parties Retail Revitalization Act of 2023 (HR 3749) Cancellation of Indebtedness income (section 108) (HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions (HR 5761, Opportunity Zones Transparency, Extension and Improvement Act) Revitalizing Downtowns Act and tax incentives for property conversions (HR 9002) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act and issues related to extension of TCJA Business interest deductibility and section 163(j) Active loss limitation and section 461(l) S. 2518, Ending Tax Breaks for Massive Sovereign Wealth Funds Act S. 2224, Stop Predatory Investing Act Treasury guidance: partnership basis-shifting transactions SECA limited partner exception under section 1402(a)(13) Tax and revenue provisions in the budget resolution Deductibility of state and local business taxes, including property taxes (Business SALT)

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

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

"Carried Interest Fairness Act" and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act and Inflation Reduction Act, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) Fair Accounting for Condominium Construction Act (HR 4280) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property Low-income housing tax credit and the Affordable Housing Credit Improvement Act (S 1557 and HR 3238) Proposed and final tax regulations under section 897 and 892 (FIRPTA domestically controlled REIT rules) REIT rules, including investments in related parties Retail Revitalization Act of 2023 (HR 3749) Cancellation of Indebtedness income (section 108) (HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions (HR 5761, Opportunity Zones Transparency, Extension and Improvement Act) Revitalizing Downtowns Act and tax incentives for property conversions (HR 9002) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act and issues related to extension of TCJA Business interest deductibility and section 163(j) Active loss limitation and section 461(l) S. 2518, Ending Tax Breaks for Massive Sovereign Wealth Funds Act S. 2224, Stop Predatory Investing Act Treasury guidance: partnership basis-shifting transactions SECA limited partner exception under section 1402(a)(13) Tax and revenue provisions in the budget resolution Deductibility of state and local business taxes, including property taxes (Business SALT)

Client expense: $1,222,530 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Transportation, Dept of (DOT), Treasury, Dept of, White House Office

Tax Cuts and Job Act Permanency NMHC supports making permanent individual tax rates and the 20 percent qualified business income tax deduction that expire at the end of 2025. NMHC supports making permanent the Estate Tax rules enacted as part of the Tax Cuts and Jobs Act of 2017 (TCJA). In TCJA, Congress, doubled the estate tax exclusion through 2025 while retaining a top tax rate of 40 percent and stepped-up basis rules. H.R. 703, Main Street Tax Certainty Act, to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income, all provisions. S. 213, Main Street Tax Certainty Act, to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income, all provisions. H.R. 4721 (118th Congress), Main Street Tax Certainty Act, to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income, all provisions. S. 1706 (118th Congress), Main Street Tax Certainty Act, to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income, all provisions. H.R. 1301, Death Tax Repeal Act, to amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, all provisions. S. 587, Death Tax Repeal Act of 2025, a bill to amend the Internal Revenue Code of 1986 to repeal the estate and generation-skipping transfer taxes, and for other purposes, all provisions. H.Con.Res. 14, Establishing the congressional budget for the United States Government for fiscal year 2025 and setting forth the appropriate budgetary levels for fiscal years 2026 through 2034, provisions impacting tax policy Revenue-Raising Provisions NMHC opposes imposing the net investment income tax (NIIT) on active income while also potentially increasing the NIIT rate. NMHC opposes requiring 100-percent recapture of depreciation deductions as ordinary income for real estate. NMHC opposes restricting the deductibility of state and local taxes (e.g., income, property, and industry-related taxes) by pass-through entities and REITs. NMHC supports retaining current law with regard to like-kind exchanges. NMHC believes that carried interest should be treated as a long-term capital gain if the underlying asset is held for at least one year.  H.R. 1091, Carried Interest Fairness Act of 2025, to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions S. 445, Carried Interest Fairness Act of 2025, to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions Low-Income Housing Tax Credit and Middle-Income Housing Tax Credit Workforce Housing Tax Credit: NMHC supports the establishment of a Workforce Housing Tax Credit to spur production of multifamily housing for households earning up to 100 percent of area median income. Low-Income Housing Tax Credit: We support increasing credit authority and reducing the bond financing test. We also support increasing the private-activity bond volume cap to increase the use of 4 percent Low-Income Housing Tax Credits S. 3436 (118th Congress), Workforce Housing Tax Credit Act, to amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes, all provisions. H.R. 6686 (118th Congress), Workforce Housing Tax Credit Act, to amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes, all provisions. H.R. 3238 (118th Congress), Affordable Housing Credit Improvement Act of 2023, to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes, all provisions, in particular provisions relating to increased tax credit authority and tax-exempt bond financing requirements. S. 1557 (118th Congress), Affordable Housing Credit Improvement Act of 2023, to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes, all provisions, in particular provisions relating to increased tax credit authority and tax-exempt bond financing requirements. Adaptive Reuse H.R. 2410, Revitalizing Downtowns and Main Streets Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing, all provisions. H.R. 9002 (118th Congress), Revitalizing Downtowns and Main Streets Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing, all provisions. S. 4693 (118th Congress), Revitalizing Downtowns and Main Streets Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing, all provisions. Opportunity Zones NMHC supports: Enabling States to recertify and/or redesignate Opportunity Zones to account for current economic realities and changes since Zones were originally designated; (2) Establishing new deferral deadlines so that taxpayers are incentivized to receive both a longer deferral period and the potential for a 10 percent or 15 percent basis increase with respect to reinvested capital gains; and (3) Reducing the basis increase necessary to qualify a multifamily rehabilitation project for Opportunity Zone purposes. H.R. 5761 (118th Congress), Opportunity Zones Transparency, Extension, and Improvement Act, to amend the Internal Revenue Code of 1986 to modify the rules relating to qualified opportunity zones, and for other purposes, all provisions Housing Preservation Draft legislative proposal, Housing Opportunities and Preservation Enhancement Act of 2025, to preserve aging affordable rental housing properties by creating tax incentives for individual investors that fund rehabilitation and preservation of existing affordable rental housing, all provisions. Brownfields H.R. 815, Brownfields Redevelopment Tax Incentive Reauthorization Act of 2025, to amend the Internal Revenue Code of 1986 to extend expensing of environmental remediation costs, all provisions. Role of Partnerships Promotion of partnerships as business entity. Tax Regulations Department of the Treasury and Internal Revenue Service, 26 CFR Part 1, TD 9992, RIN 1545-BQ36, Guidance on the Definition of Domestically Controlled Investment Entities. Department of the Treasury, Internal Revenue Service, 26 CFR Part 1, TD 10028, RIN 1545-BR07, Certain Partnership Related-Party Basis Adjustment Transactions as Transactions of Interest. Potential Congressional Review Act legislation to nullify Department of the Treasury, Internal Revenue Service, 26 CFR Part 1, TD 10028, RIN 1545-BR07, Certain Partnership Related-Party Basis Adjustment Transactions as Transactions of Interest. Income and rent limits under Internal Revenue Code Sections 42 and 142: Considered signing letter to request that Treasury and Internal Revenue Service issue guidance clarifying that: (1) the Housing and Economic Recovery Act of 2008 (HERA) income rules related to hold harmless start no later than allocation or low-income housing tax credit determination; (2) hold harmless and HERA Special incomes do not reset upon resyndication; and (3) hold harmless treatment would apply at the national non-metro amount for rural projects.

Client expense: $1,820,000 · Firm income: Not reported

Government targets: Council of Economic Advisers (CEA), Energy, Dept of, Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Labor, Dept of (DOL), Natl Economic Council (NEC), Office of Management & Budget (OMB), President of the U.S., SENATE, Securities & Exchange Commission (SEC), Vice President of the U.S.

- Revitalizing Downtowns and Main Streets Act (H.R. 9002) - Support legislation that establishes temporary 20% tax credit to offset the eligible costs of converting an underutilized commercial building to housing, with a total of $15 billion in tax credits, to be allocated by state housing finance agencies. Of the total amount of tax credits, $12 billion is allocated to states based on their population, with the remaining $3 billion targeted to economically distressed areas. - Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) - Support bill to restore and extend three essential tax priorities through 2025: immediate R&D expensing for domestic research, full expensing for capital investments, and restoring pro-growth interest deductibility standard. - American Innovation and Jobs Act (S.866) and American Innovation and R&D Competitiveness Act of 2023 (H.R. 2373)- Support bills to allow businesses to fully deduct R&D expenses annually. - Accelerate Long-term Investment Growth Now (ALIGN) Act - H.R. 2558 / S. 1166 - Support bill which would make permanent full and immediate investments in machinery and equipment. - Urge re-instating the EBITDA standard for business interest deductions. Prior to January 1, 2022, businesses' interest expense deductions were limited by section 163(j) to 30% of their earnings before interest, tax, depreciation, and amortization (EBITDA). Interest deductions are now limited to 30% of earnings before interest and tax (EBIT). By excluding depreciation and amortization, the stricter EBIT standard makes it more expensive for capital-intensive companies

Client expense: Not reported · Firm income: $14,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Historic Tax Credit Growth and Opportunity Act (H.R. 1785/S. 639) Neighborhood Homes Investment Act (H.R. 3940/S. 657) New Markets Tax Credit Extension Act of 2023 (H.R. 2539) Revitalizing Downtowns and Main Streets Act (H.R. 9002/S. 4693)

Client expense: $17,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Housing Availability and Affordability Conversations with the Senate Finance Committee and House Ways and Means Committee on tax credits to increase the affordable housing supply Communications with the House and Senate about housing supply and construction HR3507 - Yes In My Backyard Act HR6199 - Build More Housing Near Transit Act HR____ - Promote Affordable Housing Near Transit Act S.657 - Neighborhood Homes Investment Act S1668 - Yes In My Backyard Act S____ - Housing Supply and Affordability Act Discussions with the Senate about the discussion draft of the Renewing Opportunity in the American Dream (ROAD) to Housing Act S1557 - Affordable Housing Credit Improvement Act HR1321 - More Homes on the Market Act S4944 - Access to Homeownership Act S3117 - HOUSES Act of 2023 S3871 - Whole Homes Repairs Act of 2024 S3910 - Yes in God's Backyard Act Fair Housing Discussions with the House of Representatives and the Senate about reintroducing the HOME Investment Partnerships Act. Section 8 Housing Choice Voucher Program S.32 - Choice in Affordable Housing Act of 2023 Discussions with Senate offices about the Choice in Affordable Housing Act of 2023. FHA Loan Program Discussions with the House of Representatives and the Senate about the FHA Loan Program. Communication with the Federal Housing Administration urging policy actions to unlock a portion of inventory for buyers with FHA-insured loans. Loan Level Pricing Adjustments (LLPAs) HR3564 - Middle Class Borrower Protection Act of 2023 Discussions with the House of Representatives and the Senate about LLPAs. Converting Commercial Real Estate to Housing Conversations with the House and Senate about tax incentives for converting commercial real estate to affordable housing. Conversations with the House of Representatives about the Revitalizing Downtowns and Main Streets Act HR9002. Rental Housing HR1087 - The DEPOSIT Act Communications with the House of Representatives, the Senate, the White House, and the Federal Housing Finance Agency (FHFA) about rental housing issues, including rent control, eviction laws, and the GSEs participation in the multifamily rental housing space. HR801 - Respect State Housing Laws Act VA Programs HR4335 - To amend the National Housing Act to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers. Discussions with the House of Representatives and the Senate about the VA Home Loan Guaranty Program. S3068 - The VA Home Loan Awareness Act HR___ - VA Housing Loan Forever Act HR8647 - To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions to prevent or resolve a default of a housing loan guaranteed by the Secretary, and for other purposes. Heirs Property HR8127 - Heirs Estate Inheritance Resolution and Succession Act of 2024 HR8117 - Heirs Empowerment and Inheritance Rights Act of 2024 Communications with the Department of Veterans Affairs (VA) about the VA Guaranteed Home Loan Program asking the VA to revise its policies pertaining to fees veterans cannot pay when using their VA home loan benefit. Communications with the House and Senate urging them to pass appropriations to ensure continuity of VA housing programs. Rural Housing Programs Discussions with Senate offices about the USDA Rural Housing Service. Conversations with the Department of Housing and Urban Development (HUD) on the Housing Choice Voucher program (Section 8), fair housing, single and multifamily housing, the FHA Loan Program, rental housing issues, counseling, housing choice vouchers, HOME program, tenant protections. Discussions with the Consumer Financial Protection Bureau (CFPB) regarding tenant screening practices in rental housing, appraisal management companies (AMCs) appraisal independence. Conversations with the White House on rental housing issues, the Blueprint for a Tenants Bill of Rights, housing supply regulation, YIMBY (Yes in my backyard) Act and independent contractor issues. Communications with the Federal Trade Commission (FTC) about tenant screening practices in rental housing. Communications with the Federal Housing Finance Agency (FHFA) about condominium rules, LLPAs, appraisal issues, and rental housing issues. Communications with FHFA regarding its request for input on Federal Home Loan bank Core Mission Activities and Mission Achievement including that Federal Home Loan Banks were created and receive subsidies intended to help finance home purchases, there should be a minimum requirement for entrance into the system based on support for housing, there should be ongoing requirement to support housing for existing members, and there should be an expanded requirement to foster affordable housing. Communications with the House of Representatives regarding HUD programs, VA housing, and heirs property, the VA Home Loan Reform Act, the Congressional Real Estate Caucus, the Revitalizing Downtowns and Main Street Act, funding on housing programs for Fiscal Year 2025, Affordable Housing Credit Improvement Act to expand low income housing tax credit, More Homes on the Market Act to increase the tax exclusion of gain from the sale of a principal residence, Neighborhood Homes Investment Act to attract private investment in building and rehabbing owner occupied business, and housing supply and innovation framework. Communications the Senate on reducing regulation barriers to housing, the S.3755 Respect State Housing Laws Act, and Access to Homeownership Act to require multifamily borrowers with federally backed multifamily mortgage loans to submit positive rental payments to certain consumer reporting agencies, and housing supply and innovation framework. Comment letter in response to the Federal Housing Administration's draft mortgagee letter updating their 203(k)-renovation loan program. Communications with the Department of Housing and Urban Development, Office of the Comptroller of the Currency, Federal Housing Finance Administration, National Credit Union Administration, Federal Deposit Insurance Corporation, Federal Reserve Board, Consumer Financial Protection Bureau advocating for solutions to increase diversity, reduce bias, and maintain the public trust in the appraisal industry. Communications with the White House, Federal Communications Commission, Federal Trade Commission, National Economic Council, Department of Housing and Urban Development, Department of Agriculture in response to the Biden Administrations Fact Sheet on boosting housing supply highlighting the importance of not disincentivizing housing providers from participating in the rental housing market through over-regulation and in response to the Biden Administrations Fact Sheet on junk fees highlighting that fees in the rental housing industry are already regulated and serve an important function in providing safe and quality rental housing to renters. Communications with the White House, Senate, and House of Representatives on the rent cap proposal. Communications with the White House on housing supply, tax, real estate agency compensation, and homeownership incentives.

Client expense: $22,840,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Consumer Financial Protection Bureau (CFPB), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Office of the Comptroller of the Currency (OCC), SENATE, Veterans Affairs, Dept of (VA), White House Office

Housing Affordability and Availability Conversations with the House and Senate on tax policy to support the development of affordable housing and on housing tax incentives. Conversations with the Senate Finance Committee on tax credits to increase the affordable housing supply S.657 - Neighborhood Homes Investment Act S1557 - Affordable Housing Credit Improvement Act to expand low income housing tax credit. HR1321 - More Homes on the Market Act to increase the tax exclusion of gain from the sale of a principal residence and requires an annual inflation adjustment to such increase. Converting Commercial Real Estate to Housing HR419 - Revitalizing Downtowns Act Conversations with the House and Senate about tax incentives for converting commercial real estate to affordable housing. Conversations with the House of Representatives about the Revitalizing Downtowns Act. HR9002 - Revitalizing Downtowns and Main Streets Act to provide an investment credit for converting non-residential buildings to affordable housing. 1031 Like-Kind Exchanges Discussions with the House and Senate in support of the Section 1031 Like-Kind Exchange. Capital Gains Tax HR1312 - More Homes on the Market Act Discussions with the House and Senate on lowering the capital gains tax. IRC Section 121 Conversations with the House and Senate on the IREC Section 121 exclusion increases. Casualty Loss Deduction HR4539 - The Casualty Loss Deduction Restoration Act 199A Deduction S1706 - Main Street Tax Certainty Act Mortgage Debt Forgiveness HR3890 - Mortgage Debt Tax Forgiveness Act Commercial Real Estate Debt Exclusion HR5580 - Saving Our Mainstreet American Locations for Leisure and Shopping Act SALT Act HR1326 - State and local tax deductions HR 7077/SR 3940 The First-Time Homebuyer Tax Credit Act of 2024 Communications with the House and Senate in support of the First-Time Homebuyer Tax Credit. HR7025 - Death Tax Repeal Act

Client expense: $22,840,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to section 1031 of the Internal Revenue Code "Like-Kind Exchanges" Issues related to 199A. Issues related to estate tax. Issues related to corporate rate. Issues related to bonus depreciation. Issues related to earnings before interest, taxes, depreciation, and amortization. Issues related to individual and family rates. Issues related to 1099k tax issues. Support of H.R. 7024: the Tax Relief for American Families and Workers Act of 2024. Support of H.R.9002: the Revitalizing Downtowns and Main Streets Act. Support of Opportunity Zones. Support of S.1725: the Red Tape Reduction Act. Tax treatment of tips and related issue. Support of H.R.4721/S.1706: the Main Street Certainty Act.

Client expense: $637,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General Tax Reform;   Inflation Reduction Act Implementation H.R. 976, TCJA Permanency Act S. 866, American Innovation & Jobs Act;   H.R.2673, American Innovation and R&D Competitiveness Act of 2023; H.R. 3940 and S. 657, Neighborhood Homes Investment Act;   H.R. 419 and S. 2511, Revitalizing Americas Downtowns Act;   H.R.4721 and S.1706, Main Street Tax Certainty Act; H.R. 9002 and S.4693, Revitalizing Downtowns and Main Streets Act

Client expense: $520,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Treasury, Dept of, White House Office

General discussion about the need for a competitive tax system. The claims moratorium on the Employee Retention Tax Credit. The Revitalizing Downtowns and Main Streets Act (H.R.9002), regarding a proposed building conversion tax credit.

Client expense: $140,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 419, Revitalizing Downtowns and Main Streets Act. HR 9002 Revitalizing Downtowns and Main Streets Act S. 4693 Revitalizing Downtowns and Main Streets Act The President's budget proposal to limit the amount of gain that can be deferred in 1031 real estate like-kind exchanges.

Client expense: $380,000 · Firm income: Not reported

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

1. H.R. 6833 - Improve and Enhance the Work Opportunity Tax Credit Act 2. H.R. 9002 / S. 4693 - Revitalizing Downtowns and Main Streets Act - Incentivize Adaptive Reuse of Underutilized Commercial Properties

Client expense: $75,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Lobbied to extend deferred gain recognition date in Opportunity Zones program until 2028. Lobbied for enactment of tax incentives to facilitate conversions of underutilized commercial buildings to affordable housing and mix-use developments. H.R.9002 and S.4693-Revitalizing Downtowns and Main Streets Act. Lobbied to maintain IRS Code Section 1031 like-kind exchanges. Lobbied for extension of 100% bonus depreciation for qualified property placed in service after December 31, 2022. Lobbied for increase to the Low-Income Housing Tax Credit. Lobbied in support of the Main Street Tax Certainty Act (H.R. 4721) to make permanent the IRS Section 199A 20% deduction for small and individually owned businesses. Lobbied for passage of H.R. 7024, the "Tax Relief for American Families and Workers Act of 2024".

Client expense: $424,972 · Firm income: Not reported

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

Support Extension of R&D, Bonus Depreciation, and 179 Expensing Reform - H.R. 7024 Support for Final Rule implementing independent contractor reforms Comments on the Section 45Y Electricity Production Credit, Section 48E Clean Electricity Investment Credit. Position: Proposed rule (ERG-119283-23) needs fundamental redirection. Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002 Support the AIRBORNE Act - H.R. 9000

Client expense: Not reported · Firm income: Not reported

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

Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support the Secure and Fair Enforcement (SAFE) Banking Act - H.R. 2891 Support the Apprentice-Related Childcare Act - H.R. 6377 Support Small Business Payment for Performance Act - H.R. 2726 Support Extension of R&D, Bonus Depreciation, and 179 Expensing Reform Support nomination of Julie Su as Secretary of Dept. of Labor Support nomination of Jessica Looman as Administrator, Dept. of Labor Wage & Hour Division Support of workforce protections, Jessica Looman as Administrator, Dept. of Labor Wage & Hour Division Statement for the Hearing Record - Committee on Ed & Workforce Subcommittee on Workforce Protections: Endorse Jessica Looman as Administrator, Dept. of Labor Wage & Hour Division Oppose efforts to repeal Davis-Bacon Act - H.R. 720 Support FAA Reauthorization Act of 2024 - H.R. 3935 Oppose Rep. Gaetz NDAA Amendment to Exempt DoD Projects from Using Project Labor Agreements Oppose legislation to gut the Davis-Bacon Act Wage Calculation Method (Gosar Amendment) - H.R. 8518 Support NDAA Amendment #365 - Rep. Stauber's Bipartisan Federal Contract Change Order Reform Oppose legislation limiting use of Project Labor Agreements (PLAs) - H.R. 1209 Oppose the views put forth in the House Subcommittee on Cybersecurity, Information Technology, and Government Innovation's hearing "Cutting the Competition in Contracting" The Administration's Pricey Project Labor Agreement Mandate." Support President Biden's Final Rule / E.O. 14063 on the appropriate use of construction project labor agreements (PLAs) on public construction and strongly supports their federal construction contract use. SMACNA endorses Deva Kyle as Next Director of the Pension Benefit Guaranty Corporation (PBGC) Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002 Support the AIRBORNE Act - H.R. 9000

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

"Carried Interest Fairness Act" and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act and Inflation Reduction Act, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) Fair Accounting for Condominium Construction Act (HR 4280) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property Low-income housing tax credit and the Affordable Housing Credit Improvement Act (S 1557 and HR 3238) Proposed and final tax regulations under section 897 and 892 REIT rules, including investments in related parties Retail Revitalization Act of 2023 (HR 3749) Cancellation of Indebtedness income (section 108) (HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions (HR 5761, Opportunity Zones Transparency, Extension and Improvement Act) Revitalizing Downtowns Act and tax incentives for property conversions (HR 9002) Passive Foreign Investment Company proposed tax regulations (REG-118250-20) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act and issues related to extension of TCJA Business interest deductibility and section 163(j) Active loss limitation and section 461(l) S. 2518, Ending Tax Breaks for Massive Sovereign Wealth Funds Act S. 2224, Stop Predatory Investing Act Tax Relief for American Families and Workers Act (H.R. 7024) Treasury guidance: partnership basis-shifting transactions SECA limited partner exception under section 1402(a)(13)

Client expense: $1,575,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Transportation, Dept of (DOT), Treasury, Dept of, White House Office

HR 5580, Saving Our Mainstreet American Locations for Leisure and Shopping Act - ALL S 1706/HR 4721, Main Street Tax Certainty Act - ALL HR 9002/S 4693 Revitalizing Downtowns and Main Streets Act - ALL HR 7024 Tax Relief for American Families and Workers Act - Sec. 202-204 IRC Section 1031 - maintaining current treatment - no bill IRC Sec 1061 - maintaining current treatment - no bill IRC Section 118 - to provide that certain contributions by government entities are treated as contributions to capital - no bill Wyden Pass-Through Reform - no bill, discussion draft - ALL H.R. 419, Revitalizing Downtowns Act - enhancements to facilitate conversion of commercial buildings into other uses - ALL H.R. 2686, Ending Wall Street Tax Giveaway Act - ALL S. 3317 Ending the Carried Interest Loophole Act - ALL H.R. 3749, Retail Revitalization Act of 2023 - ALL H.R. 5761 Opportunity Zones Transparency, Extension & Improvement Act, ALL S. 4123 Carried Interest Fairness Act - ALL

Client expense: $350,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Educates members of Congress and staff on how the national interest is served by IRC section 47, which provides incentives for real estate developers to rehabilitate certified historic properties. We discuss and encourage support for H.R.1785 the Historic Tax Credit Growth and Opportunity Act (HTC-GO) which outlines ways to improve the historic tax credit (HTC) and the Senate version of the legislation, S.639. We discuss how the provisions will help assist in revitalizing our communities. The bill would bring more value to the HTC and more investment to historic rehabilitation projects. The House (HTC-GO) bill would provide temporary relief to address present industry challenges. We request congressional support and promote the benefits of HTC-GO provisions moving tax legislation or in year-end legislation. We have also discussed, referenced and monitored H.R. 9002; Revitalizing Downtowns and Main Streets Act and discussed/explored ways to rehabilitate underutilized historic buildings into housing and discussed possible legislation to improve smaller main street scale rehabilitation projects. Educates members of Congress and staff on impact of New Markets Tax Credit (NMTC) related bills that would make the in NMTC permanent, including the New Markets Tax Credit Extension Act of 2023 (H.R. 2539/S.234), and bills that would bring more NMTC investment to economically distressed areas. We request congressional support and promote the benefits of New Markets Tax Credits related provisions in moving tax legislation or year-end legislation. Meets with National Park Service staff to discuss challenges related to the historic rehab industry and give recommendations to make the historic tax credit approval process more user-friendly and streamlined.

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

Government targets: HOUSE OF REPRESENTATIVES, Natl Park Service (NPS), SENATE

Educates members of Congress and staff on how the national interest is served by IRC section 47, which provides incentives for real estate developers to rehabilitate certified historic properties. We discuss and encourage support for H.R.1785 the Historic Tax Credit Growth and Opportunity Act (HTC-GO) which outlines ways to improve the historic tax credit (HTC) and the Senate version of the legislation, S.639. We discuss how the provisions will help assist in revitalizing our communities. The bill would bring more value to the HTC and more investment to historic rehabilitation projects. The House (HTC-GO) bill would provide temporary relief to address present industry challenges. We request congressional support and promote the benefits of HTC-GO provisions moving tax legislation or in year-end legislation. We have also discussed, referenced and monitored H.R. 9002; Revitalizing Downtowns and Main Streets Act and discussed/explored ways to rehabilitate underutilized historic buildings into housing and discussed possible legislation to improve smaller main street scale rehabilitation projects. Educates members of Congress and staff on impact of New Markets Tax Credit (NMTC) related bills that would make the in NMTC permanent, including the New Markets Tax Credit Extension Act of 2023 (H.R. 2539/S.234), and bills that would bring more NMTC investment to economically distressed areas. We request congressional support and promote the benefits of New Markets Tax Credits related provisions in moving tax legislation or year-end legislation. Meets with National Park Service staff to discuss challenges related to the historic rehab industry and give recommendations to make the historic tax credit approval process more user-friendly and streamlined.

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

Government targets: HOUSE OF REPRESENTATIVES, Natl Park Service (NPS), SENATE

Educates members of Congress and staff on how the national interest is served by IRC section 47, which provides incentives for real estate developers to rehabilitate certified historic properties. We discuss and encourage support for H.R.1785 the Historic Tax Credit Growth and Opportunity Act (HTC-GO) which outlines ways to improve the historic tax credit (HTC) and the Senate version of the legislation, S.639. We discuss how the provisions will help assist in revitalizing our communities. The bill would bring more value to the HTC and more investment to historic rehabilitation projects. The House (HTC-GO) bill would provide temporary relief to address present industry challenges. We request congressional support and promote the benefits of HTC-GO provisions moving tax legislation or in year-end legislation. We have also discussed, referenced and monitored H.R. 9002; Revitalizing Downtowns and Main Streets Act and discussed/explored ways to rehabilitate underutilized historic buildings into housing and discussed possible legislation to improve smaller main street scale rehabilitation projects. Educates members of Congress and staff on impact of New Markets Tax Credit (NMTC) related bills that would make the in NMTC permanent, including the New Markets Tax Credit Extension Act of 2023 (H.R. 2539/S.234), and bills that would bring more NMTC investment to economically distressed areas. We request congressional support and promote the benefits of New Markets Tax Credits related provisions in moving tax legislation or year-end legislation. Meets with National Park Service staff to discuss challenges related to the historic rehab industry and give recommendations to make the historic tax credit approval process more user-friendly and streamlined.

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

Government targets: HOUSE OF REPRESENTATIVES, Natl Park Service (NPS), SENATE

Educates members of Congress and staff on how the national interest is served by IRC section 47, which provides incentives for real estate developers to rehabilitate certified historic properties. We discuss and encourage support for H.R.1785 the Historic Tax Credit Growth and Opportunity Act (HTC-GO) which outlines ways to improve the historic tax credit (HTC) and the Senate version of the legislation, S.639. We discuss how the provisions will help assist in revitalizing our communities. The bill would bring more value to the HTC and more investment to historic rehabilitation projects. The House (HTC-GO) bill would provide temporary relief to address present industry challenges. We request congressional support and promote the benefits of HTC-GO provisions moving tax legislation or in year-end legislation. We have also discussed, referenced and monitored H.R. 9002; Revitalizing Downtowns and Main Streets Act and discussed/explored ways to rehabilitate underutilized historic buildings into housing and discussed possible legislation to improve smaller main street scale rehabilitation projects. Educates members of Congress and staff on impact of New Markets Tax Credit (NMTC) related bills that would make the in NMTC permanent, including the New Markets Tax Credit Extension Act of 2023 (H.R. 2539/S.234), and bills that would bring more NMTC investment to economically distressed areas. We request congressional support and promote the benefits of New Markets Tax Credits related provisions in moving tax legislation or year-end legislation. Meets with National Park Service staff to discuss challenges related to the historic rehab industry and give recommendations to make the historic tax credit approval process more user-friendly and streamlined.

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

Government targets: HOUSE OF REPRESENTATIVES, Natl Park Service (NPS), SENATE

Educates members of Congress and staff on how the national interest is served by IRC section 47, which provides incentives for real estate developers to rehabilitate certified historic properties. We discuss and encourage support for H.R.1785 the Historic Tax Credit Growth and Opportunity Act (HTC-GO) which outlines ways to improve the historic tax credit (HTC) and the Senate version of the legislation, S.639. We discuss how the provisions will help assist in revitalizing our communities. The bill would bring more value to the HTC and more investment to historic rehabilitation projects. The House (HTC-GO) bill would provide temporary relief to address present industry challenges. We request congressional support and promote the benefits of HTC-GO provisions moving tax legislation or in year-end legislation. We have also discussed, referenced and monitored H.R. 9002; Revitalizing Downtowns and Main Streets Act and discussed/explored ways to rehabilitate underutilized historic buildings into housing and discussed possible legislation to improve smaller main street scale rehabilitation projects. Educates members of Congress and staff on impact of New Markets Tax Credit (NMTC) related bills that would make the in NMTC permanent, including the New Markets Tax Credit Extension Act of 2023 (H.R. 2539/S.234), and bills that would bring more NMTC investment to economically distressed areas. We request congressional support and promote the benefits of New Markets Tax Credits related provisions in moving tax legislation or year-end legislation. Meets with National Park Service staff to discuss challenges related to the historic rehab industry and give recommendations to make the historic tax credit approval process more user-friendly and streamlined.

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

Government targets: HOUSE OF REPRESENTATIVES, Natl Park Service (NPS), SENATE

Educates members of Congress and staff on how the national interest is served by IRC section 47, which provides incentives for real estate developers to rehabilitate certified historic properties. We discuss and encourage support for H.R.1785 the Historic Tax Credit Growth and Opportunity Act (HTC-GO) which outlines ways to improve the historic tax credit (HTC) and the Senate version of the legislation, S.639. We discuss how the provisions will help assist in revitalizing our communities. The bill would bring more value to the HTC and more investment to historic rehabilitation projects. The House (HTC-GO) bill would provide temporary relief to address present industry challenges. We request congressional support and promote the benefits of HTC-GO provisions moving tax legislation or in year-end legislation. We have also discussed, referenced and monitored H.R. 9002; Revitalizing Downtowns and Main Streets Act and discussed/explored ways to rehabilitate underutilized historic buildings into housing and discussed possible legislation to improve smaller main street scale rehabilitation projects. Educates members of Congress and staff on impact of New Markets Tax Credit (NMTC) related bills that would make the in NMTC permanent, including the New Markets Tax Credit Extension Act of 2023 (H.R. 2539/S.234), and bills that would bring more NMTC investment to economically distressed areas. We request congressional support and promote the benefits of New Markets Tax Credits related provisions in moving tax legislation or year-end legislation. Meets with National Park Service staff to discuss challenges related to the historic rehab industry and give recommendations to make the historic tax credit approval process more user-friendly and streamlined.

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

Government targets: HOUSE OF REPRESENTATIVES, Natl Park Service (NPS), SENATE

S. 4693/H.R. 9002, Revitalizing Downtowns and Main Streets Act H.R. 419, Revitalizing Downtowns Act S. 680, DASH Act

Client expense: Not reported · Firm income: $12,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 6686, Workforce Housing Tax Credit Act, to amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes (entire bill). General education on Infrastructure Investment and Jobs Act of 2021, Pub. L. 117-58 (November 15, 2021), Division H, Title IV, Section 80403 (Increase in National Limitation Amount for Qualified Highway or Surface Freight Transportation Facilities). H.R. 9002, Revitalizing Downtowns and Main Streets Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing (entire bill).

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

Government targets: HOUSE OF REPRESENTATIVES

- Revitalizing Downtowns and Main Streets Act (H.R. 9002) - Support legislation that establishes temporary 20% tax credit to offset the eligible costs of converting an underutilized commercial building to housing, with a total of $15 billion in tax credits, to be allocated by state housing finance agencies. Of the total amount of tax credits, $12 billion is allocated to states based on their population, with the remaining $3 billion targeted to economically distressed areas. - Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) - Support bill to restore and extend three essential tax priorities through 2025: immediate R&D expensing for domestic research, full expensing for capital investments, and restoring pro-growth interest deductibility standard. - American Innovation and Jobs Act (S.866) and American Innovation and R&D Competitiveness Act of 2023 (H.R. 2373)- Support bills to allow businesses to fully deduct R&D expenses annually. - Accelerate Long-term Investment Growth Now (ALIGN) Act - H.R. 2558 / S. 1166 - Support bill which would make permanent full and immediate investments in machinery and equipment. - Urge re-instating the EBITDA standard for business interest deductions. Prior to January 1, 2022, businesses' interest expense deductions were limited by section 163(j) to 30% of their earnings before interest, tax, depreciation, and amortization (EBITDA). Interest deductions are now limited to 30% of earnings before interest and tax (EBIT). By excluding depreciation and amortization, the stricter EBIT standard makes it more expensive for capital-intensive companies

Client expense: Not reported · Firm income: $14,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Historic Tax Credit Growth and Opportunity Act (H.R. 1785/S. 639) Neighborhood Homes Investment Act (H.R. 3940/S. 657) New Markets Tax Credit Extension Act of 2023 (H.R. 2539) Revitalizing Downtowns and Main Streets Act (H.R. 9002/S. 4693)

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Issues related to section 1031 of the Internal Revenue Code "Like-Kind Exchanges"; issues related to 199A; issues related to estate tax; issues related to corporate rate; issues related to bonus depreciation; issues related to earnings before interest, taxes, depreciation, and amortization; issues related to individual and family rates; issues related to 1099k tax issues; supportive of H.R. 7024, the Tax Relief for American Families and Workers Act of 2024; support Revitalizing Downtowns and Main Streets Act (H.R.9002).

Client expense: $640,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support Extension of R&D, Bonus Depreciation, and 179 Expensing Reform - H.R. 7024 Support for Final Rule implementing independent contractor reforms Comments on the Section 45Y Electricity Production Credit, Section 48E Clean Electricity Investment Credit. Position: Proposed rule (ERG-119283-23) needs fundamental redirection. Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002 Support the AIRBORNE Act - H.R. 9000

Client expense: Not reported · Firm income: Not reported

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

Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support the Secure and Fair Enforcement (SAFE) Banking Act - H.R. 2891 Support the Apprentice-Related Childcare Act - H.R. 6377 Support Small Business Payment for Performance Act - H.R. 2726 Support Extension of R&D, Bonus Depreciation, and 179 Expensing Reform Support nomination of Julie Su as Secretary of Dept. of Labor Support nomination of Jessica Looman as Administrator, Dept. of Labor Wage & Hour Division Support of workforce protections, Jessica Looman as Administrator, Dept. of Labor Wage & Hour Division Statement for the Hearing Record - Committee on Ed & Workforce Subcommittee on Workforce Protections: Endorse Jessica Looman as Administrator, Dept. of Labor Wage & Hour Division Oppose efforts to repeal Davis-Bacon Act - H.R. 720 Support FAA Reauthorization Act of 2024 - H.R. 3935 Oppose Rep. Gaetz NDAA Amendment to Exempt DoD Projects from Using Project Labor Agreements Oppose legislation to gut the Davis-Bacon Act Wage Calculation Method (Gosar Amendment) - H.R. 8518 Support NDAA Amendment #365 - Rep. Stauber's Bipartisan Federal Contract Change Order Reform Oppose legislation limiting use of Project Labor Agreements (PLAs) - H.R. 1209 Oppose the views put forth in the House Subcommittee on Cybersecurity, Information Technology, and Government Innovation's hearing "Cutting the Competition in Contracting" The Administration's Pricey Project Labor Agreement Mandate." Support President Biden's Final Rule / E.O. 14063 on the appropriate use of construction project labor agreements (PLAs) on public construction and strongly supports their federal construction contract use. SMACNA endorses Deva Kyle as Next Director of the Pension Benefit Guaranty Corporation (PBGC) Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002 Support the AIRBORNE Act - H.R. 9000

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support the Revitalizing Downtowns and Main Streets Act - H.R. 9002

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General Tax Reform;   Inflation Reduction Act Implementation H.R. 976, TCJA Permanency Act S. 866, American Innovation & Jobs Act;   H.R.2673, American Innovation and R&D Competitiveness Act of 2023; H.R. 3940 and S. 657, Neighborhood Homes Investment Act;   H.R. 419 and S. 2511, Revitalizing Americas Downtowns Act;   H.R.4721 and S.1706, Main Street Tax Certainty Act; H.R. 9002 and S.4693, Revitalizing Downtowns and Main Streets Act

Client expense: $520,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Treasury, Dept of, White House Office

Housing Availability and Affordability Conversations with the Senate Finance Committee and House Ways and Means Committee on tax credits to increase the affordable housing supply Communications with the House and Senate about housing supply and construction HR3507 - Yes In My Backyard Act HR6199 - Build More Housing Near Transit Act HR____ - Promote Affordable Housing Near Transit Act S.657 - Neighborhood Homes Investment Act S1668 - Yes In My Backyard Act S____ - Housing Supply and Affordability Act Discussions with the Senate about the discussion draft of the Renewing Opportunity in the American Dream (ROAD) to Housing Act S1557 - Affordable Housing Credit Improvement Act HR1321 - More Homes on the Market Act S4944 - Access to Homeownership Act Fair Housing Discussions with the House of Representatives and the Senate about reintroducing the HOME Investment Partnerships Act. Section 8 Housing Choice Voucher Program S.32 - Choice in Affordable Housing Act of 2023 Discussions with Senate offices about the Choice in Affordable Housing Act of 2023. FHA Loan Program Discussions with the House of Representatives and the Senate about the FHA Loan Program. Communication with the Federal Housing Administration urging policy actions to unlock a portion of inventory for buyers with FHA-insured loans. Loan Level Pricing Adjustments (LLPAs) HR3564 - Middle Class Borrower Protection Act of 2023 Discussions with the House of Representatives and the Senate about LLPAs. Converting Commercial Real Estate to Housing Conversations with the House and Senate about tax incentives for converting commercial real estate to affordable housing. Conversations with the House of Representatives about the Revitalizing Downtowns and Main Streets Act HR9002. Rental Housing HR1087 - The DEPOSIT Act Communications with the House of Representatives, the Senate, the White House, and the Federal Housing Finance Agency (FHFA) about rental housing issues, including rent control, eviction laws, and the GSEs participation in the multifamily rental housing space. VA Programs HR4335 - To amend the National Housing Act to include information regarding VA home loans in the Informed Consumer Choice Disclosure required to be provided to prospective FHA borrowers. Discussions with the House of Representatives and the Senate about the VA Home Loan Guaranty Program. S3068 - The VA Home Loan Awareness Act HR___ - VA Housing Loan Forever Act HR8647 - To amend title 38, United States Code, to authorize the Secretary of Veterans Affairs to take certain actions to prevent or resolve a default of a housing loan guaranteed by the Secretary, and for other purposes. Heirs Property HR8127 - Heirs Estate Inheritance Resolution and Succession Act of 2024 HR8117 - Heirs Empowerment and Inheritance Rights Act of 2024 Communications with the Department of Veterans Affairs (VA) about the VA Guaranteed Home Loan Program asking the VA to revise its policies pertaining to fees veterans cannot pay when using their VA home loan benefit. Communications with the House and Senate urging them to pass appropriations to ensure continuity of VA housing programs. Rural Housing Programs Discussions with Senate offices about the USDA Rural Housing Service. Conversations with the Department of Housing and Urban Development (HUD) on the Housing Choice Voucher program (Section 8), fair housing, single and multifamily housing, the FHA Loan Program, rental housing issues, counseling, housing choice vouchers, HOME program, tenant protections. Discussions with the Consumer Financial Protection Bureau (CFPB) regarding tenant screening practices in rental housing, appraisal management companies (AMCs) appraisal independence. Conversations with the White House on rental housing issues, the Blueprint for a Tenants Bill of Rights, housing supply regulation, YIMBY (Yes in my backyard) Act and independent contractor issues. Communications with the Federal Trade Commission (FTC) about tenant screening practices in rental housing. Communications with the Federal Housing Finance Agency (FHFA) about condominium rules, LLPAs, appraisal issues, and rental housing issues. Communications with FHFA regarding its request for input on Federal Home Loan bank Core Mission Activities and Mission Achievement including that Federal Home Loan Banks were created and receive subsidies intended to help finance home purchases, there should be a minimum requirement for entrance into the system based on support for housing, there should be ongoing requirement to support housing for existing members, and there should be an expanded requirement to foster affordable housing. Communications with the House of Representatives regarding HUD programs, VA housing, and heirs property, the VA Home Loan Reform Act, the Congressional Real Estate Caucus, the Revitalizing Downtowns and Main Street Act, funding on housing programs for Fiscal Year 2025, Affordable Housing Credit Improvement Act to expand low income housing tax credit, More Homes on the Market Act to increase the tax exclusion of gain from the sale of a principal residence, and Neighborhood Homes Investment Act to attract private investment in building and rehabbing owner occupied business. Communications the Senate on reducing regulation barriers to housing, the S.3755 Respect State Housing Laws Act, and Access to Homeownership Act to require multifamily borrowers with federally backed multifamily mortgage loans to submit positive rental payments to certain consumer reporting agencies. Comment letter in response to the Federal Housing Administration's draft mortgagee letter updating their 203(k)-renovation loan program. Communications with the Department of Housing and Urban Development, Office of the Comptroller of the Currency, Federal Housing Finance Administration, National Credit Union Administration, Federal Deposit Insurance Corporation, Federal Reserve Board, Consumer Financial Protection Bureau advocating for solutions to increase diversity, reduce bias, and maintain the public trust in the appraisal industry. Communications with the White House, Federal Communications Commission, Federal Trade Commission, National Economic Council, Department of Housing and Urban Development, Department of Agriculture in response to the Biden Administrations Fact Sheet on boosting housing supply highlighting the importance of not disincentivizing housing providers from participating in the rental housing market through over-regulation and in response to the Biden Administrations Fact Sheet on junk fees highlighting that fees in the rental housing industry are already regulated and serve an important function in providing safe and quality rental housing to renters. Communications with the White House, Senate, and House of Representatives on the rent cap proposal.

Client expense: $32,010,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Consumer Financial Protection Bureau (CFPB), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Office of the Comptroller of the Currency (OCC), SENATE, Veterans Affairs, Dept of (VA), White House Office

Housing Affordability and Availability Conversations with the House and Senate on tax policy to support the development of affordable housing and on housing tax incentives. Conversations with the Senate Finance Committee on tax credits to increase the affordable housing supply S.657 - Neighborhood Homes Investment Act S1557 - Affordable Housing Credit Improvement Act to expand low income housing tax credit. HR1321 - More Homes on the Market Act to increase the tax exclusion of gain from the sale of a principal residence and requires an annual inflation adjustment to such increase. Converting Commercial Real Estate to Housing HR419 - Revitalizing Downtowns Act Conversations with the House and Senate about tax incentives for converting commercial real estate to affordable housing. Conversations with the House of Representatives about the Revitalizing Downtowns Act. HR9002 - Revitalizing Downtowns and Main Streets Act to provide an investment credit for converting non-residential buildings to affordable housing. 1031 Like-Kind Exchanges Discussions with the House and Senate in support of the Section 1031 Like-Kind Exchange. Capital Gains Tax HR1312 - More Homes on the Market Act Discussions with the House and Senate on lowering the capital gains tax. IRC Section 121 Conversations with the House and Senate on the IREC Section 121 exclusion increases. Casualty Loss Deduction HR4539 - The Casualty Loss Deduction Restoration Act 199A Deduction S1706 - Main Street Tax Certainty Act Mortgage Debt Forgiveness HR3890 - Mortgage Debt Tax Forgiveness Act Commercial Real Estate Debt Exclusion HR5580 - Saving Our Mainstreet American Locations for Leisure and Shopping Act SALT Act HR1326 - State and local tax deductions HR 7077/SR 3940 The First-Time Homebuyer Tax Credit Act of 2024 Communications with the House and Senate in support of the First-Time Homebuyer Tax Credit.

Client expense: $32,010,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 419, Revitalizing Downtowns and Main Streets Act. HR 9002 Revitalizing Downtowns and Main Streets Act S. 4693 Revitalizing Downtowns and Main Streets Act The President's budget proposal to limit the amount of gain that can be deferred in 1031 real estate like-kind exchanges.

Client expense: $460,000 · Firm income: Not reported

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

1. H.R. 6833 - Improve and Enhance the Work Opportunity Tax Credit Act 2. H.R. 9002 / S. 4693 - Revitalizing Downtowns and Main Streets Act - Incentivize Adaptive Reuse of Underutilized Commercial Properties

Client expense: $75,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE