BOMA International Advocacy Update - Senate Majority Leader Harry Reid

Recently, BOMA International staff had the opportunity to enjoy breakfast with the Senate Majority Leader, Harry Reid (D-Nev.), at a small real estate gathering. The leader discussed topics of interest to the real estate industry, including energy efficiency incentives, the potential for repealing or amending the Foreign Investment in Real Property Tax Act (FIRPTA), and the outlook for legislation to grant states the right to collect sales tax from Internet retailers. The Majority Leader also expressed frustration over the anticipated sequestration set to kick in tomorrow. He does not believe that there will be a last minute solution this time around, but hopes that both sides will come to an agreement shortly thereafter.