REAL ESTATE ROUNDTABLE for REAL ESTATE ROUNDTABLE

Banking BAN

GSE Reform/Housing Bills (2651, HR6644, S. 2657) 21st Century ROAD to Housing Act Dodd Frank Regulations (Volker Rule, Credit Risk Retention, OTC Derivatives) H.R. 4640, S. 2155 Basel III, Liquidity Coverage Ration, HVCRE Rule, S. 2155, Basel III Endgame Terrorism Risk Insurance, Program Reauthorization Act of 2026, HR 7128 (TRIA) Flood Insurance (NFIP Reauthorization) CFIUS Reform (FIRRMA) Beneficial Ownership, Corporate Transparency Act, Enablers Act Bank Secrecy Act (BSA) Cyber Security (H.R. 3776, H.R. 3359) Current Expected Credit Losses (CECL) Cannabis Issues, Safe Banking Act (H.R. 1595) LIBOR Reform Nat Cat Risk Insurance Mark to Market Accounting Forbearance Issues Stimulus Legislation Liability Reform Troubled Debt Restructuring (TDR) SEC Proposed Rules on: Amendments to Form PF, Private Fund Advisers, Cybersecurity Risk Management SEC Custody Rule Federal guidelines for voluntary carbon markets FSOC Guidance on Non Bank Financial Institutions Enhanced Supplementary Leverage Ratio Standards (ESLR)

Contacted: Federal Reserve System; Securities & Exchange Commission (SEC); Treasury, Dept of; Federal Accounting Standards Advisory Board (FASAB); SENATE; HOUSE OF REPRESENTATIVES; Office of the Comptroller of the Currency (OCC); Federal Housing Finance Agency (FHFA); Commodity Futures Trading Commission (CFTC)

Bills named: H.R. 1595 (119th), H.R. 4640 (119th), H.R. 3776 (119th), H.R. 3359 (119th), S. 2657 (119th), H.R. 6644 (119th), H.R. 7128 (119th), S. 2155 (119th)

Energy/Nuclear ENG

Energy Tax issues; Matters related to EPA Energy Star Program and federal appropriations; DOE Better Buildings Initiatives; and EPA eGRID program; Energy Consumption Data and Building Rating Issues; Indoor Air Quality issues; AIM Act HFC transition phasedown; DOE Grants to States and Localities for Building Performance Standards; Matters regarding electricity supply and availability; Data Center energy disclosures; NERC Large Load Action Plan

Contacted: Energy, Dept of; Environmental Protection Agency (EPA); HOUSE OF REPRESENTATIVES; SENATE

Financial Institutions/Investments/Securities FIN

Credit Risk Retention OTC Derivatives Basel III, Liquidity Coverage Ration, HVCRE Rule, FRTB, Basel III Endgame Flood Insurance; Terrorism Risk Insurance; Natural Catastrophe Risk Insurance CFIUS Reform (FIRRMA) Beneficial Ownership, Corporate Transparency Act, ENABLERS Act Cyber Security (H.R. 3776, H.R. 3359); Cyber Insurance Current Expected Credit Losses (CECL) LIBOR Reform Forbearance Issues Emergency Rental Assistance for Residential Business Tenants (e.g., H.R. 7301) Restart Act (S. 3814) Corporate Governance Through Diversity Act (H.R. 1018, S. 360) Pandemic Risk Insurance Troubled Deb Restructuring (TDR) CECL Reg S-K Reform SEC Proposed Rules on: Amendments to Form PF, Private Fund Advisers, Cybersecurity Risk Management SEC Custody Rule Enhanced Supplementary Leverage Ratio (ESLR) FSOC Guidance on Non Bank Financial Institutions GSE Reform Housing Legislation (HR 6644) Expanding 401(k) investment to include Real Estate Harrt-Scott-Rodino (HSR) Exemptions for Real Estate

Contacted: Treasury, Dept of; Federal Reserve System; Office of the Comptroller of the Currency (OCC); Federal Deposit Insurance Corporation (FDIC); Justice, Dept of (DOJ); Securities & Exchange Commission (SEC); Federal Trade Commission (FTC); Labor, Dept of (DOL); Commodity Futures Trading Commission (CFTC)

Bills named: H.R. 1018 (119th), S. 3814 (119th), H.R. 7301 (119th), S. 360 (119th), H.R. 3776 (119th), H.R. 6644 (119th), H.R. 3359 (119th)

Immigration IMM

EB-5 Immigrant Investor Reform and Implementation, Gold Card proposal

Contacted: SENATE; Homeland Security, Dept of (DHS); HOUSE OF REPRESENTATIVES

Insurance INS

Terrorism Risk Insurance (TRIA Reauthorization) HR 7128 National Catastrophic Risk Insurance Flood Insurance (NFIP Reauthorization) LIBOR Reform Beneficial Ownership, Corporate Transparency Act CFIUS Issues Cyber Insurance Economic Recovery Liability Reform Troubled Debt Restructuring (TDR) CECL CIRCIA Reporting Requirements CFIUS NPRM on foreign investment in US real estate GSE Reform

Contacted: SENATE; Treasury, Dept of; HOUSE OF REPRESENTATIVES; White House Office; Homeland Security, Dept of (DHS)

Bills named: H.R. 7128 (119th)

Homeland Security HOM

Model Standard for Private Sector Emergency Preparedness Information Sharing and Resilience Cyber Security CISPA Cyber Intelligence Sharing and Protection Act Cybersecurity (H.R. 3359, H.R. 3776) Beneficial Ownership, Corporate Transparency Act Bank Secrecy Act (BSA) Geographic Tracking Orders (GTO) CFIUS Issues Nat Cat Risk CFIUS NPRM on foreign investment CISA 2015 Reauthorization

Contacted: HOUSE OF REPRESENTATIVES; Director of National Intelligence (ODNI); Homeland Security, Dept of (DHS); Federal Bureau of Investigation (FBI); SENATE

Bills named: H.R. 3776 (119th), H.R. 3359 (119th)

Labor Issues/Antitrust/Workplace LBR

Fiduciary Rule; Davis-Bacon, prevailing wage, and apprenticeship matters. Expanding 401(k) investment for real estate

Contacted: SENATE; HOUSE OF REPRESENTATIVES; White House Office; Labor, Dept of (DOL)

Taxation/Internal Revenue Code TAX

"Carried Interest Fairness Act" and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, and regulatory implementation Like-Kind Exchanges (Sec. 1031) Equal Tax Act (H.R. 5336) FIRPTA reform and Parity for Non-Traded REITS Act Net investment income tax and SECA liability Cost recovery, residential rental property, nonresidential property, and bonus depreciation Low-income housing tax credit and the Affordable Housing Credit Improvement Act Proposed and final tax regulations under section 897 (FIRPTA domestically controlled REIT rules) 892 (Foreign government tax exemption), including proposed regulations REIT rules, including investments in related parties Capital gains tax rate 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including the PARTNERSHIPS Act (s. 2095) and Basis Shifting is a Rip Off Act (S. 2094) Opportunity Zone reform, reporting, and transition rules Revitalizing Downtowns and Main Streets Act and tax incentives for property conversions (HR 9002) Business interest deductibility, section 163(j), and the real property trade or business election, including guidance related to modifying prior elections Active loss limitation and section 461(l)(Excess Business Losses) SECA limited partner exception under section 1402(a)(13) Immediate expensing of qualified production property Retaliatory Tax Measures and Proposed Section 899 Tax treatment of demolition costs and demolished buildings American Homeowner Act (S. 3904) regarding taxation of single-family rental homes and institutional owners of housing Wealth tax proposals, including H.R. 8085 (Ultra-millionaire Tax Act) State and local tax deduction and pass-through business income IRS Notice 2007-55 (FIRPTA) Clean energy and energy efficiency tax incentives

Contacted: HOUSE OF REPRESENTATIVES; Transportation, Dept of (DOT); SENATE; Internal Revenue Service (IRS); White House Office; Treasury, Dept of

Bills named: H.R. 9002 (119th), H.R. 8085 (119th), S. 2094 (119th), S. 2095 (119th), H.R. 5336 (119th), S. 3904 (119th)

Transportation TRA

Infrastructure finance issues (e.g., repatriation, Highway Trust Fund) Public-Private Partnerships TIFIA/RRIF loans to support transit-oriented development and property conversions Permitting requirements (e.g., NEPA)

Contacted: SENATE; Transportation, Dept of (DOT); HOUSE OF REPRESENTATIVES

Housing HOU

GSE Reform Bills LIHTC Improvements: Affordable Housing Credit Improvement Act (S. 1703, H.R. 3077); Middle Income Housing Tax Credit Act (S. 3365) Section 8 housing choice voucher reform Yes in My Backyard Act Manufactured Housing Modernization Act GSA disposition of federal properties for housing purposes Housing is Infrastructure Act Building more Housing Near Transit Act CDC eviction ban, mortgage forbearance matters Affordable Housing Issues Office to Multifamily Conversions GSE Reform Housing Legislation (S. 2651, H.R. 6644)

Contacted: Energy, Dept of; Federal Housing Finance Agency (FHFA); Housing & Urban Development, Dept of (HUD)

Bills named: H.R. 6644 (119th), S. 3365 (119th), S. 1703 (119th), H.R. 3077 (119th), S. 2651 (119th)

Government Issues GOV

Federal employee return to the office and the SHOW UP Act (H.R. 139)

Contacted: Office of Management & Budget (OMB); HOUSE OF REPRESENTATIVES; SENATE; Office of Personnel Management (OPM)

Bills named: H.R. 139 (119th)