October 23, 2024 | Washington, D.C.
After more than a year and half of negotiations, NAIOP's government affairs staff was able to get Rep. Mike Carey (R-OH) and Rep. Jimmy Gomes (D-CA). to reach agreement on the introduction of H.R, 9002, The Revitalizing Downtowns and Main Streets Act. This bipartisan legislation would create a new 20% tax credit to make possible conversion of many underutilized or vacant commercial properties to residential use. As part of our effort to grow support for the legislation, we have been meeting with members of the House Ways and Means Committee to educate them on the legislation and encourage them to support its inclusion in future tax legislation.