Key Real Estate Tax Provisions Renewed by Congress
Congress passed, and the President signed into law, sweeping legislation of more than two-thousand pages to fund the Federal Government Fiscal Year 2016. The new legislation will put an end to the series of stop-gap funding measures known as “Continuing Resolutions” that have funded the government since the start of FY 2016 on October 1, 2015. This new bill will expire in September 2016.
A few of the renewed policies include Mortgage Debt Forgiveness, MIP Deductibility; Leasehold Improvement Depreciation; Energy Efficient Commercial Buildings (Section 179D); and many others. To view the entire list of real estate provisions, click here.