A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program.

NETWORK strongly supports H.R. 902,the Earned Income Tax Credit Improvement and Simplification Act 2015, to expand the Earned Income Tax Credit to include single adults not raising children, the only group of people who are taxed into poverty. NETWORK supports S.1193 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. NETWORK strongly supports S.198 - Stop Corporate Inversions Act of 2015 - which would close the tax loopholes that promote the off-shoring of profits by U.S. corporations. NETWORK strongly supports the Obama Administration's rules to curb inversion transactions that erode the corporate tax base and unfairly place a larger burden on all other taxpayers, including small businesses and hard-working Americans. NETWORK strongly believes that the Social Security Disability Insurance should be fully funded to protect individuals that are receiving this critical benefit. NETWORK believes that wealthy individuals and corporations should pay their fair share of taxes. NETWORK supports the Sensible Estate Tax Act which calls on the wealthy to pay their fair share of taxes at the time of death. NETWORK supports the Putting Main Street FIRST Act which would levy a 0.03 percent tax on transactions of stocks, bonds and derivatives to discourage speculative financial trading. NETWORK supports H.R. 2889, the Carried Interest Fairness Act of 2015, that would close the tax loophole which allows wealthy Americans to avoid paying their fair share of taxation. NETWORK supports HR 3970, The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act which would cap the tax deductibility of CEO pay at $1 million. NETWORK strongly supports the Treasury Department's rule on the Treatment of Certain Interests in Corporations as Stock or Indebtedness, also know as the "earning stripping" rule. NETWORK supports efforts by the Financial Accounting Standards Board (FASB) to improve standards for income tax disclosure by companies to expand transparency regarding foreign tax and earnings.

Client expense: $95,000 · Firm income: Not reported

Government targets: Consumer Financial Protection Bureau (CFPB), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of Management & Budget (OMB), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Customs & Border Protection, U.S. Trade Representative (USTR), White House Office

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits. S. 2962, Affordable Housing Credit Improvement Act. House Republican Tax Reform Task Force Blueprint. S. 3237, Affordable Housing Credit Improvement Act of 2016. S. 3384, the Middle-Income Housing Tax Credit Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

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

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits. S. 2962, Affordable Housing Credit Improvement Act. House Republican Tax Reform Task Force Blueprint.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

NETWORK strongly supports H.R. 902,the Earned Income Tax Credit Improvement and Simplification Act 2015, to expand the Earned Income Tax Credit to include single adults not raising children, the only group of people who are taxed into poverty. NETWORK supports S.1193 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. NETWORK strongly supports S.198 - Stop Corporate Inversions Act of 2015 - which would close the tax loopholes that promote the off-shoring of profits by U.S. corporations. NETWORK strongly supports the Obama Administration's rules to curb inversion transactions that erode the corporate tax base and unfairly place a larger burden on all other taxpayers, including small businesses and hard-working Americans. NETWORK strongly believes that the Social Security Disability Insurance should be fully funded to protect individuals that are receiving this critical benefit. NETWORK believes that wealthy individuals and corporations should pay their fair share of taxes. NETWORK supports the Sensible Estate Tax Act which calls on the wealthy to pay their fair share of taxes at the time of death. NETWORK supports the Putting Main Street FIRST Act which would levy a 0.03 percent tax on transactions of stocks, bonds and derivatives to discourage speculative financial trading. NETWORK supports H.R. 2889, the Carried Interest Fairness Act of 2015, that would close the tax loophole which allows wealthy Americans to avoid paying their fair share of taxation. NETWORK supports HR 3970, The Stop Subsidizing Multimillion Dollar Corporate Bonuses Act which would cap the tax deductibility of CEO pay at $1 million.

Client expense: $95,000 · Firm income: Not reported

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property S. 591, New Markets Tax Credit Extension Act of 2015 S. 1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 1795, National Disaster Tax Relief Act

Client expense: $22,123 · Firm income: Not reported

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

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

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

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

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Increasing Budget Authority in FY16 Budget for HUD 108 program and HOME program, Low Income Housing Tax Credit S.1193 and H.R.1142

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Create permanent legislation for the NMTC and LIHTC - or a long term extenders package . NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program Department of Housing and Urban Development and Appropriations for the HUD Section 108 Loan Guarantee Program Small Business Administration 7(a) Loan Guarantee Program and Legislation: S.1001-The Small Business Lending Reauthorization Act of 2015 Municipal Bonds activity in NDC client communities and legislation including H.R.2229 - Municipal Bond Market Support Act of 2015

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support continued tax-exempt status for charitable organizations and tax incentives for charitable giving. Support H.R. 1142/S. 1193, to strengthen the low-income housing tax credit. Supported provisions of H.R. 2029, tax extender legislation, that made permanent the 9% rate for the low-income housing tax credit and that made permanent the tax-free rollover of IRA funds to charitable organizations.

Client expense: $16,662 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes. H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. S. 591, New Markets Tax Credit Extension Act of 2015 S. 1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 1795, National Disaster Tax Relief Act

Client expense: $258,541 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). Discussion Draft of American Business Competitiveness Act of 2015 (Rep. Devin Nunes), legislation to amend the Internal Revenue Code of 1986 to tax business income on a cash flow basis and for other purposes, all provisions. OECD, Base Erosion and Profit Shifting Project, Limiting Base Erosion Involving Interest Deductions and Other Financial Payments, Action 4 - 2015 Final Report Tax Extenders We supported the permanent extension of Bonus Depreciation, Section 179 Small Business Expensing, the flat 9 Percent Low-Income Housing Tax Credit (with an expansion to provide for a flat 4 percent LITHC for acquisitions), the Energy Efficient Commercial Building Deduction (with an expansion to allow for retrofits of multifamily properties), the New Energy Efficient Home Credit, and the New Markets Tax Credit. P.L. 114-113, H.R. 2029, Consolidated Appropriations Act, 2016, Division Q: Protecting Americans from Tax Hikes Act of 2015. Section 124: Extension and modification of increased expensing limitations and treatment of certain real property as section 179 property, Section 131: Extension of minimum low-income housing tax credit rate for non Federally subsidized buildings, Section 141: Extension of new markets tax credit, Section 143: Extension and modification of bonus depreciation, Section 188: Extension of credit for energy-efficient new homes, Section 190: Extension of energy efficient commercial buildings deduction, Section 311: Restriction on tax-free spinoffs involving REITs, Section 322: Exception from FIRPTA for certain stock of REITs, Section 323: Exception for interests held by foreign retirement or pension funds, Section 341: Updated ASHRAE standards for energy efficient commercial buildings deduction. House Amendment to the Senate Amendment to H.R. 34, Tax Increase Prevention and Real Estate Investment Act of 2015, Section 112: Extension of temporary minimum low-income housing tax credit rate for non-Federally subsidized buildings, Section 115: Extension of New Markets Tax Credit, Section 125: Extension and Modification of Bonus Depreciation, Section 127: Extension and Modification of Increased Expensing Limitations and Treatment of Certain Real Property as Section 179 Property, Section 158: Extension of Credit for Energy-Efficient New Homes, Section 160: Extension of Energy Efficient Commercial Buildings Deductions, Section 201: Restrictions on Tax-Free Spinoffs Involving REITs, Section 213: Exception from FIRPTA for Certain Stock of Real Estate Investment Trusts, Section 214: Exception for Interests Held by Foreign Retirement or Pension Funds, Section 274: Partnership Audit Rules, Section 281: Updated ASHRAE Standards for Energy Efficient Commercial Buildings Deduction. S. 1946, Tax Relief Extension Act of 2015: Section 112: Extension and Modification of Temporary Minimum Low-Income Housing Tax Credit Rate for Non-Federally Subsidized Buildings, Section 115: Extension and Modification of New Markets Tax Credit, Section 125: Extension of Bonus Depreciation, Section 127: Extension and Modification of Increased Expensing Limitations and Treatment of Certain Real Property as Section 179 Property, Section 151: Extension and Modification of Credit for Nonbusiness Energy Property, Section 158: Extension of Credit for Energy-Efficient New Homes, Section 260: Extension and Modification of Energy Efficient Commercial Buildings Deduction. Foreign Investment in Real Property Tax Act (FIRPTA) We support FIRPTA repeal. If this is not feasible, we favor: (1) exempting from the application of FIRPTA gains of foreign pension funds from the disposition of U.S. real property interests; and (2) increasing the amount of U.S. REIT stock minority shareholders can hold without triggering tax. S. 915, Real Estate and Investment Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. H.R. 2128, Real Estate Investment and Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. Low-Income Housing Tax Credit (LIHTC) H.R. 1142, to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions. S. 1193, a bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions Draft legislation to amend the Internal Revenue Code of 1986 to allow the conversion of private activity bond volume cap into State housing credit ceiling for allocation under the low-income housing tax credit, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform and Expand the Low-Income Housing Tax Credit (LIHTC), allow conversion of private activity bond volume cap into LIHTCs and encourage mixed income occupancy by allowing LIHTC-supported projects to elect a criterion employing a restriction on average income. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, 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. Amdt. 2887 to H.R. 3762, to provide for reconciliation pursuant to section 2002 of the concurrent resolution on the budget for fiscal year 2016, Special Rules for Partners Providing Investment Management Services to Partnerships. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Tax Carried Interests as Ordinary Income Partnership Audits P.L. 114-74, H.R. 1314, Bipartisan Budget Act of 2015, Section 1101, partnership audits and adjustments. H.R. 2821, Partnership Audit Simplification Act of 2015, to amend the Internal Revenue Code to reform partnership audit rules, all provisions. Housing Affordability Housing Affordability tax incentives (including workforce housing tax credit possibilities and preservation possibilities)

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support. S.1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support.

Client expense: Not reported · Firm income: $6,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

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

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

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

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Modify Like-Kind Exchange Rules for Real Property and Collectibles H.R. 1, Tax Reform Act of 2014 (113th Congress). Section 1001: Simplification of individual income tax rates. Section 1002: Deduction for adjusted net capital gain. Section 1405: Repeal of deduction for taxes not paid or accrued in a trade or business. Section 1502: Determination of net earnings from self employment. Section 3104: Reform of accelerated cost recovery system. Section 3113: Repeal of deduction for energy efficient commercial buildings. Section 3133: Repeal of like-kind exchanges. Section 3139: Depreciation recapture on gain from disposition of certain depreciable realty. Section 3204: Low-income housing tax credit. Section 3217: Repeal of new energy efficient home credit. Section 3431: Termination of private activity bonds. Section 3621: Ordinary income treatment in the case of partnership interest held in connection with performance of services. Senate Committee on Finance Chairman's Staff Discussion Draft to Reform Certain Business Provisions (113th Congress). Section 2: Repeal of Certain Specialized Expensing Provisions (i.e., Section 179D). Section 11: Pooled Asset Cost Recovery System and Depreciation of Real Property. Section 12. Rules Related to Treatment of Gains from Depreciable Property. Section 15. Repeal of Like-Kind Exchanges. Discussion Draft of American Business Competitiveness Act of 2015 (Rep. Devin Nunes), legislation to amend the Internal Revenue Code of 1986 to tax business income on a cash flow basis and for other purposes, all provisions. Tax Extenders We supported the permanent extension of Bonus Depreciation, Section 179 Small Business Expensing, the flat 9 Percent Low-Income Housing Tax Credit (with an expansion to provide for a flat 4 percent LITHC for acquisitions), the Energy Efficient Commercial Building Deduction (with an expansion to allow for retrofits of multifamily properties), the New Energy Efficient Home Credit, and the New Markets Tax Credit. S. 1946, Tax Relief Extension Act of 2015: Section 112: Extension and Modification of Temporary Minimum Low-Income Housing Tax Credit Rate for Non-Federally Subsidized Buildings, Section 115: Extension and Modification of New Markets Tax Credit, Section 125: Extension of Bonus Depreciation, Section 127: Extension and Modification of Increased Expensing Limitations and Treatment of Certain Real Property as Section 179 Property, Section 151: Extension and Modification of Credit for Nonbusiness Energy Property, Section 158: Extension of Credit for Energy-Efficient New Homes, Section 260: Extension and Modification of Energy Efficient Commercial Buildings Deduction. H.R. 636, America's Small Business Tax Relief Act. Section 2: Expensing of Certain Depreciable Assets for Small Business H.R. 2510, to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation, all provisions. Foreign Investment in Real Property Tax Act (FIRPTA) We support FIRPTA repeal. If this is not feasible, we favor: (1) exempting from the application of FIRPTA gains of foreign pension funds from the disposition of U.S. real property interests; and (2) increasing the amount of U.S. REIT stock minority shareholders can hold without triggering tax. S. 915, Real Estate and Investment Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. H.R. 2128, Real Estate Investment and Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. Low-Income Housing Tax Credit (LIHTC) H.R. 1142, to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions. S. 1193, a bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions Government Accountability Office, Low-Income Housing Tax Credit: Joint IRS-HUD Administration Could Help Address Weakness in Oversight (GAO-15-330), proposal to designate HUD as joint administrator (with IRS) of LIHTC program. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform and Expand the Low-Income Housing Tax Credit (LIHTC), allow conversion of private activity bond volume cap into LIHTCs and encourage mixed income occupancy by allowing LIHTC-supported projects to elect a criterion employing a restriction on average income. HOME Investment Partnerships (HOME) program funding as it relates to the Low Income Housing Tax Credit Program (Requested Congress to restore HOME funding to at least the level of $1.06 billion contained in the Administrations Fiscal Year 2016 budget request). We also favor proposals to expand LIHTC resources, such as those to enable the conversion of private activity bonds into Low-Income Housing Tax Credits and to provide a minimum 4 percent credit rate for Housing Bond-financed properties. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, 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. Amdt. 2177 to S. 1177, Subpart 2 -- Carried Interest Fairness, all provisions within subpart. Department of the Treasury, Internal Revenue Service, Notice of Proposed Rulemaking, Disguised Payments for Services (REG-115452-14) Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Tax Carried Interests as Ordinary Income Partnership Audits H.R. 2821, Partnership Audit Simplification Act of 2015, to amend the Internal Revenue Code to reform partnership audit rules, all provisions.

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes. H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. S. 591, New Markets Tax Credit Extension Act of 2015 S. 1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 1795, National Disaster Tax Relief Act

Client expense: $123,876 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support continued tax-exempt status for charitable organizations and tax incentives for charitable giving. Support H.R. 1142/S. 1193, to strengthen the low-income housing tax credit.

Client expense: $42,371 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support. S.1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support.

Client expense: Not reported · Firm income: $6,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Create permanent legislation for the NMTC and LIHTC - or a long term extenders package . NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Increasing Budget Authority in FY16 Budget for HUD 108 program and HOME program, Low Income Housing Tax Credit S.1193 and H.R.1142

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program Department of Housing and Urban Development and Appropriations for the HUD Section 108 Loan Guarantee Program Small Business Administration 7(a) Loan Guarantee Program and Legislation: S.1001-The Small Business Lending Reauthorization Act of 2015 Municipal Bonds activity in NDC client communities and legislation including H.R.2229 - Municipal Bond Market Support Act of 2015

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program.

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Modify Like-Kind Exchange Rules for Real Property and Collectibles Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform the Taxation of Capital Income H.R. 1, Tax Reform Act of 2014 (113th Congress). Section 1001: Simplification of individual income tax rates. Section 1002: Deduction for adjusted net capital gain. Section 1405: Repeal of deduction for taxes not paid or accrued in a trade or business. Section 1502: Determination of net earnings from self employment. Section 3104: Reform of accelerated cost recovery system. Section 3113: Repeal of deduction for energy efficient commercial buildings. Section 3133: Repeal of like-kind exchanges. Section 3139: Depreciation recapture on gain from disposition of certain depreciable realty. Section 3204: Low-income housing tax credit. Section 3217: Repeal of new energy efficient home credit. Section 3431: Termination of private activity bonds. Section 3621: Ordinary income treatment in the case of partnership interest held in connection with performance of services. Senate Committee on Finance Chairman's Staff Discussion Draft to Reform Certain Business Provisions (113th Congress). Section 2: Repeal of Certain Specialized Expensing Provisions (i.e., Section 179D). Section 11: Pooled Asset Cost Recovery System and Depreciation of Real Property. Section 12. Rules Related to Treatment of Gains from Depreciable Property. Section 15. Repeal of Like-Kind Exchanges. Tax Extenders We supported the permanent extension of Bonus Depreciation, Section 179 Small Business Expensing, the flat 9 Percent Low-Income Housing Tax Credit (with an expansion to provide for a flat 4 percent LITHC for acquisitions), the Energy Efficient Commercial Building Deduction (with an expansion to allow for retrofits of multifamily properties), the New Energy Efficient Home Credit, and the New Markets Tax Credit H.R. 636, America's Small Business Tax Relief Act. Section 2: Expensing of Certain Depreciable Assets for Small Business S. 1660, A bill to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation, all provisions. Foreign Investment in Real Property Tax Act (FIRPTA) We support FIRPTA repeal. If this is not feasible, we favor: (1) exempting from the application of FIRPTA gains of foreign pension funds from the disposition of U.S. real property interests; and (2) increasing the amount of U.S. REIT stock minority shareholders can hold without triggering tax. S. 915, Real Estate and Investment Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. H.R. 2128, Real Estate Investment and Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Exempt Foreign Pension Funds from the Application of the Foreign Investment in Real Property Tax Act (FIRPTA) Low-Income Housing Tax Credit (LIHTC) H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions. S. 1193, a bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions Draft legislation to amend the Internal Revenue Code of 1986 to allow the conversion of private activity bond volume cap into State housing credit ceiling for allocation under the low-income housing tax credit, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform and Expand the Low-Income Housing Tax Credit (LIHTC), allow conversion of private activity bond volume cap into LIHTCs and encourage mixed income occupancy by allowing LIHTC-supported projects to elect a criterion employing a restriction on average income. We also favor proposals to expand LIHTC resources, such those to enable the conversion of private activity bonds into Low-Income Housing Tax Credits and to provide a minimum 4 percent credit rate for Housing Bond-financed properties. Energy Tax Incentives S. 2189, the Energy Efficiency Tax Incentives Act (113th Congress). Section 101: Extension and modification of deduction for energy-efficient commercial buildings. Section 102. Deduction for retrofits of existing commercial and multifamily buildings. Estate Tax H.R. 1105, Death Tax Repeal Act of 2015, Section 2. Repeal of Estate and Generation-Skipping Transfer Taxes. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Tax Carried Interests as Ordinary Income Fire Sprinklers H.R. 5622 (113th Congress), Fire Sprinkler Incentive Act, to amend the Internal Revenue Code of 1986 to include automated fire sprinkler system retrofits as section 179 property and classify certain automated fire sprinkler system retrofits as 15-year property for purposes of depreciation, all provisions. S. 1163 (113th Congress), Fire Sprinkler Incentive Act, to amend the Internal Revenue Code of 1986 to include automated fire sprinkler system retrofits as section 179 property and classify certain automated fire sprinkler system retrofits as 15-year property for purposes of depreciation, all provisions.

Support continued tax-exempt status for charitable organizations and tax incentives for charitable giving. Support H.R. 1142/S. 1193, to strengthen the low-income housing tax credit.

Client expense: $80,008 · Firm income: Not reported

Government targets: Administration for Children & Families (ACF), HOUSE OF REPRESENTATIVES, SENATE

H.R.1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support. S.1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support

Client expense: Not reported · Firm income: $6,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

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

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of