Leasehold Improvement Depreciation Act of 2007

Carried Interest Taxation - H.R. 2834, H.R. 3996 Extend Energy Efficiency Incentives Act - H.R. 1385 - S. 822 15 Year Leasehold Improvement Act - S. 1361, H.R. 2014 Environmental Clean-up Cost Expensing - H.R. 1753 REMIC Regulations Housing Stimulus Legislation - H.R. 5720 Renewable Energy Tax Act - H.R. 5351 Real Estate Investor Diversification and Empowerment Act Alternative Minimum Tax Relief - H.R. 6275

Client expense: $920,000 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Energy, Dept of, Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

H.R.7202: To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. Lobbied for extension of provisions establishing 15-year depreciation schedule for leasehold improvements and to extend brownfields remediation expensing. S. 34- Sales Tax Fairness and Simplification Act; lobbied for passage of the bill. S. 1361- Leasehold Improvement Depreciation; lobbied to make permanent the 15-year depreciation schedule for leasehold improvements. S. 3335- Jobs, Energy, Families and Disaster Relief Act of 2008; lobbied for the extension of tax incentives for commercial buildings. S. 3336- New Clean Energy Tax Extenders Act; lobbied for the extension of tax incentives for commercial buildings. S. 3098- Alternative Minimum Tax and Extenders Tax Relief Act of 2008; lobbied for the extension of tax incentives for commercial buildings. S. 822- Extend the Energy Efficiency Incentives Act of 2007; lobbied for the extension of tax incentives for commercial buildings H.R. 3396- Sales Tax Fairness and Simplification Act; lobbied for the passage of the bill. H.R. 2014- Leasehold Improvement Depreciation Act of 2007; lobbied to make permanent the 15-year depreciation schedule for leasehold improvements. H.R. 1753- Brownfields Remediation Expensing; lobbied to make permanent brownfields remediation expensing. H.R. 3984- The Brownfields Redevelopment Tax Incentive Act of 2007; lobbied to make permanent brownfields remediation expensing. H.R. 3897- Brownfields Redevelopment Promotion Act; lobbied to make permanent brownfields remediation expensing. H.R. 6049- Renewable Energy and Job Creation Act of 2007; lobbied for the extension of tax incentives for commercial buildings. H.R. 6275- Alternative Minimum Tax Relief Act of 2008; lobbied against inclusion of tax increase on partnership carried interest. H.R. 539- Buildings for the 21st Century- lobbied for the extension of tax incentives for commercial buildings. H.R. 1424- Emergency Economic Stabilization Act of 2008; lobbied to provide authority for the federal government to purchase certain types of assets and for the extension of tax incentives for commercial buildings.

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. 1424 - the "Emergency Economic and Stabalization Act of 2008" included a $700 billion rescue plan to restart the flow of capital in the marketplace, included real estate tax extenders of brownfield deduction, the 15-year leasehold improvement, deduction of state and local taxes, and a 1-year patch of the AMT. 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. 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 $7500 tax credit for first-time homebuyers, includes a FIRPTA fix that would allow escrow to hold documents, allows for the use of mortgage bonds to refinance qualified subprime loans, included community development block grants to purchase foreclosed properties, includes a new $500/$1000 standard deduction for property taxes, and includes a revision of the rules governing second home conversions and the capital gain exclusion. H.R. 3997 - Defenders of Freedom Tax Relief Act of 2007 - Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. 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. H.R. 5720 - Housing Assistance Tax Act of 2008 - Amends the Internal Revenue Code relating to the low-income housing tax credit, tax-exempt housing bonds, real estate investment trusts (REITs) and to provide assistance to first-time home buyers and home owners. Allows first-time home buyers a refundable tax credit for 10% of the purchase price of a principal residence, up to $7,500; and (2) individual taxpayers who claim the standard deduction an additional deduction from gross income for state and local real property taxes. Modifies rules relating to 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 the maximum value of an REIT's total assets that 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; and (4) treat rental payments made by a health care facility to an REIT as qualifying REIT income. H.R. 6049 - Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. This includes: the deduction of state and local taxes, use of mortgage bonds to refinance residences for veterans, 15-year leasehold improvement deduction, brownfield deduction, and includes a new standard property tax deduction of $350 ($700 for married individuals filing a joint tax return). H.R. 6081 - Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. H.R. 6275 - Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss. 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. 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.

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 extenders 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. H.R. 6078, "Green Resources for Energy Efficient Neighborhoods Act of 2008." H.R. 1424, Emergency Economic Stabilization Act of 2008.

Client expense: $220,000 · Firm income: Not reported

S. 34 and H.R. 3396 (Sales Tax Fairness and Simplification Act) Lobbied for the passage of the bill. S. 1361 and H.R. 2014 (Leasehold Improvements) Lobbied to make permanent the 15 year depreciation schedule for leasehold improvements. H.R. 1753 (Brownfields Remediation Expensing) Lobbied to make permanent Brownfields remediation expensing. H.R. 3984 (Brownfields Remediation Expensing) Lobbied to make permanent Brownfields remediation expensing. H.R. 3897 (Brownfields Remediation Expensing) Lobbied to make permanent Brownfields remediation expensing. H.R. 6049 (Renewable Energy and Job Creation Act of 2008). Lobbied for passage of the bill. H.R. 6275 (Alternative Minimum Tax Relief Act of 2008). Lobbied against inclusion of tax increase on partnership carried interests.

Client expense: $274,560 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Carried Interest Taxation - H.R. 2834, H.R. 3996 Extend Energy Efficiency Incentives Act - H.R. 1385 - S. 822 15 Year Leasehold Improvement Act - S. 1361, H.R. 2014 Environmental Clean-up Cost Expensing - H.R. 1753 REMIC Regulations Housing Stimulus Legislation - H.R. 5720 Renewable Energy Tax Act - H.R. 5351 Real Estate Investor Diversification and Empowerment Act Alternative Minimum Tax Relief - H.R. 6275

Client expense: $760,000 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Energy, Dept of, Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

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. 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, includes a FIRPTA fix that would allow escrow to hold documents, and allows for the use of mortgage bonds to refinance qualified subprime loans. H.R. 3997 - Defenders of Freedom Tax Relief Act of 2007 - Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. 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. H.R. 5720 - Housing Assistance Tax Act of 2008 - Amends the Internal Revenue Code relating to the low-income housing tax credit, tax-exempt housing bonds, real estate investment trusts (REITs) and to provide assistance to first-time home buyers and home owners. Allows first-time home buyers a refundable tax credit for 10% of the purchase price of a principal residence, up to $7,500; and (2) individual taxpayers who claim the standard deduction an additional deduction from gross income for state and local real property taxes. Modifies rules relating to 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 the maximum value of an REIT's total assets that 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; and (4) treat rental payments made by a health care facility to an REIT as qualifying REIT income. H.R. 6049 - Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. This includes: the deduction of state and local taxes, use of mortgage bonds to refinance residences for veterans, 15-year leasehold improvement deduction, brownfield deduction, and includes a new standard property tax deduction of $350 ($700 for married individuals filing a joint tax return). H.R. 6081 - Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. H.R. 6275 - Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss. 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.

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

S. 34 and H.R. 3396 (Sales Tax Fairness and Simplification Act) Lobbied for the passage of the bill. S. 1361 and H.R. 2014 (Leasehold Improvements) Lobbied to make permanent the 15 year depreciation schedule for leasehold improvements. H.R. 1753 (Brownfields Remediation Expensing) Lobbied to make permanent Brownfields remediation expensing. H.R. 3984 (Brownfields Remediation Expensing) Lobbied to make permanent Brownfields remediation expensing. H.R. 3897 (Brownfields Remediation Expensing) Lobbied to make permanent Brownfields remediation expensing. S. AMDT. 4419 of H.R. 3221 (Foreclosure Prevention Act) Lobbied on the inclusion of an extension of the energy efficient commercial building tax incentives.

Client expense: $332,805 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Carried Interest Taxation - H.R. 2834, H.R. 3996 Extend Energy Efficiency Incentives Act - H.R. 1385 - S. 822 15 Year Leasehold Improvement Act - S. 1361, H.R. 2014 Environmental Clean-up Cost Expensing - H.R. 1753 REMIC Regulations Economic Stimulus Legislation - H.R. 5140 Housing Stimulus Legislation - H.R. 5720 Renewable Energy Tax Act - H.R. 5351 Real Estate Investor Diversification Act

Client expense: $790,000 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Commerce, Dept of (DOC), Energy, Dept of, Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

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.

Carried Interest Taxation - H.E. 2834, H.R. 3996 Extend Energy Efficiency Incentives Act - H.R. 1385 - S. 822 15 Year Leasehold Improvement Act - S. 1361, H.R. 2014 Environmental Clean-up Cost Expensing - H.R. 1753

Client expense: $1,316,350 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Environmental Protection Agency (EPA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Labor, Dept of (DOL), SENATE, Treasury, Dept of, White House Office

H.R. 2834 - To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. S. 1624 - To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. H.R. 2776 - Renewable Energy and Energy Conservation Tax Act of 2007 S. 1361 - Permanently extend the 15-year recovery period for the depreciation of certain leasehold improvements and to modify the depreciation rules relating to such leasehold improvements for purposes of computing earnings and profits. H.R. 2014 - Permanently extend the 15-year recovery period for the depreciation of certain leasehold improvements and to modify the depreciation rules relating to such leasehold improvements for purposes of computing earnings and profits.

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

Carried Interest Taxation - H.R. 2834 Extend Energy Efficiency Incentives Act - H.R. 1385 - S. 822 15 Year Leasehold Improvement Act - S. 1361, H.R. 2014 Environmental Cleanup Cost Expensing - H.R. 1753 REMIC Modernization - S. 580, H.R. 1010 American Jobs Creation Act of 2004 - Technical Corrections Hurricane Katrina Tax Relief - H.R. 4440

Client expense: $1,283,630 · Firm income: Not reported

Government targets: Army, Dept of (Corps of Engineers), Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Interior, Dept of (DOI), Justice, Dept of (DOJ), Labor, Dept of (DOL), SENATE, Treasury, Dept of, White House Office

H.R. 43 - Brownfields Housing and Community Renewal Development Act - Amends the Housing and Community Development Act of 1974 to establish a grants program for redevelopment activities for brownfield sites. H.R. 60 - Amends the Internal Revenue Code to make permanent the tax deduction for state and local general sales taxes. H.R. 411 - Amends the Internal Revenue Code to make permanent the tax deductions for state and local sales taxes, for certain expenses of elementary and secondary school teachers, and for tuition and related expenses. H.R. 778 - Amends the Internal Revenue Code to make permanent the tax credit for residential energy efficient property expenditures. H.R. 1077 - Internet Consumer Protection Act of 2007 - Amends the Internet Tax Freedom Act to make permanent the ban on state taxation of Internet access and on multiple or discriminatory taxes on electronic commerce. H.R. 1112 - Stealth Tax Relief Extension Act of 2007 - Amends the Internal Revenue Code to: (1) increase the exemption from the alternative minimum tax for individual taxpayers in 2007; and (2) extend through 2007 the allowance of certain nonrefundable tax credits against alternative minimum tax liability. 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 the maximum value of a REIT's total assets thay 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. 1250 - Expensing Property Expands our Nation's Strong Economy Act of 2007 or the EXPENSE Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the limitations on the expensing of depreciable business assets; and (2) allow taxpers to elect a two-year recovery period for depreciable property. H.R. 1261 - Capital Gains Inflation Relief Act of 2007 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. H.R. 1422 - Endangered Species Recovery Act of 2007- Amends the Internal Revenue Code to allow certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs relating to habitat protection easements and restoration. Places limits on the amount of such credit for calendar years 2008, 2009, 2010, 2011, and 2012. Directs the Comptroller General of the United States to study and report to Congress on the effectiveness of such credit. 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. 1753 - Amends the Internal Revenue Code to: (1) make permanent the current year tax deduction (expensing) for environmental remediation costs; and (2) repeal requirements for the recapture upon sale of such deduction as ordinary income. 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. 1876 - Mortgage Cancellation Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to the discharge of certain residential mortgage obligations. H.R. 1942 - AMT Middle Class Fairness Act of 2007 - Amends Internal Revenue Code provisions relating to the alternative minimum tax (AMT) on individuals to: (1) allow a deduction from such tax for state and local taxes; and (2) adjust the AMT exemption amounts for inflation after 2006. 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. 2091 - Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income). H.R. 2206 - U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007 – Included in this bill was a provision that would increase to $125,000 (with annual inflation adjustments) the expensing allowance for small business assets and extends such expensing allowance through 2010. H.R. 2318 - Amends the Internal Revenue Code to allow the tax deduction for state and local income and property taxes as an adjustment in computing alternative minium taxable income. H.R. 2380 - Death Tax Repeal Permanency Act of 2007 - Makes the repeal of the estate and generation-skipping transfer taxes under the Economic Growth and Tax Reconciliation Act of 2001 permanent (under the Act, those taxes would be reinstated after December 31, 2010). H.R. 2659 - Conservation Reserve Program Tax Fairness Act of 2007 - Amends the Internal Revenue Code and the Social Security Act to treat payments under the Conservation Acreage Reserve Program as rentals from real estate and thus not self employment income subject to employment tax. Transfers from the general fund of the Treasury to specified social security trust funds amounts necessary to cover any reductions in trust fund revenues resulting from this Act. H.R. 2715 - To amend the Internal Revenue Code of 1986 to include heavier vehicles in the limitation on the depreciation of certain luxury automobiles. H.R. 2737 - Health Care Relief Act of 2007 - To amend the Internal Revenue Code of 1986 to allow previously uninsured individuals a refundable credit for health insurance costs and to provide tax incentives to encourage small business health plans. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership as to the value of specified assets (e.g., real estate, commodities, or options or derivative contracts); (2) advising the partnership about investing in, purchasing, or selling specified assets; (3) managing, acquiring, or disposing of specified assets; or (4) arranging financing with respect to acquiring specified assets. H.R. 2893 - To amend the Internal Revenue Code of 1986 to provide that qualified homeowner downpayment assistance is a charitable purpose, and for other purposes. S. 138 - Amends the Internal Revenue Code to allow a surviving spouse to exclude from gross income up to $500,000 of the gain from the sale or exchange of a principal residence owned jointly with a deceased spouse if the sale or exchange occurs within two years of the death of the spouse and other ownership and use requirements have been met. S. 269 - Amends the Internal Revenue Code to: (1) increase the expensing allowance for depreciable business property from $100,000 to $200,000; (2) make such allowance permanent; (3) increase to $800,000 the asset cost threshold for calculating reductions in such allowance; (4) allow an annual inflation adjustment to the expensing allowance and the threshold amount after 2007; and (5) allow a taxpayer to revoke an election to expense such business property without the prior consent of the Secretary of the Treasury. S. 700 - Endangered Species Recovery Act of 2007- Amends the Internal Revenue Code to allow certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs relating to habitat protection easements and restoration. Places limits on the amount of such credit for calendar years 2008, 2009, 2010, 2011, and 2012. Directs the Comptroller General of the United States to study and report to Congress on the effectiveness of such credit. S. 926 - Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods. 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. 1155 - Conservation Reserve Program Tax Fairness Act of 2007 - Amends the Internal Revenue Code and the Social Security Act to treat payments under the Conservation Acreage Reserve Program as rentals from real estate and thus not self employment income subject to employment tax. Transfers from the general fund of the Treasury to specified social security trust funds amounts necessary to cover any reductions in trust fund revenues resulting from this Act. 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. 1394 - Mortgage Cancellation Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to the discharge of certain residential mortgage obligations. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S . 1453 - ITFA Extension Act of 2007 - Amends the Internet Tax Freedom Act to extend until November 1, 2011: (1) the ban on state taxation of Internet access and on multiple or discriminatory taxes on electronic commerce; and (2) provisions allowing states with Internet tax laws enacted prior to the ban to continue enforcing such laws.

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 received for the performance of services. Legislative concept to extend and increase the commercial building tax deduction, IRS Code Section 179-D, no bill introduced at present. S.34, "The Sales Tax Fairness and Simplification Act" to promote simplification and fairness in the administration and collection of sales and use taxes. All provisions.

Client expense: $360,000 · Firm income: Not reported