NAIOP’s Legislative Survey

NAIOP recently conducted a survey among its members, asking them to rank legislative priorities and provide feedback on the issues currently facing the industry on Capitol Hill. Below is an executive summary of the survey’s results.

The need for capital and credit liquidity is a clear priority for NAIOP members, with 70 percent of survey respondents supporting NAIOP urging policymakers to pursue additional measures to encourage banks to extend loans to properties with maturing commercial debt and clear balance sheets of distressed assets.

Among the other top priorities:

Carried Interest. Sixty-six percent say carried interest is important to the industry, with 29 percent remaining neutral on the topic. One-third of respondents use carried interest, either personally or through their firm.

Energy. Seventy-one percent say NAIOP should continue to strongly oppose federally-mandated energy-efficiency targets. The importance of the Commercial Building Energy Efficient Tax Deduction in making decisions about increasing energy efficiency in a project was split, with 60 percent agreeing and 40 percent responding as neutral or disagree. Only 15 percent of respondents have used the Commercial Building Energy Efficient Tax Deduction.

Leasehold Improvements. Ninety percent support a permanent extension for depreciation of leasehold improvements to 15 years, from 39 years.

Increased Transportation Funding. Seventy-six percent believe that Congress should implement a National Infrastructure Bank to direct additional investment toward infrastructure repair and expansion, and 79 percent say Congress should significantly increase funding for the Highway Trust Fund. Sixty-seven percent believe that a national goods movement strategy is needed as part of the Transportation Reauthorization Bill.

Wetlands. Eighty-two say NAIOP should oppose legislation that increases federal jurisdiction and permitting authority over wetlands.

Estate tax. Eighty percent responded that NAIOP should urge Congress to either repeal the estate tax or lower the rate by making the step-up in basis rule permanent.

Card Check. Eighty-eight percent said that NAIOP should oppose card check legislation because it would negatively affect hiring and provide unions with unfair leverage over employees in the voting process.

The survey went to 5,858 full NAIOP members in January 2010 and received a response rate of 5.26 percent, or 308 individual responses.