Author: Trey Jackson

Congressional Lame Duck Session Could Consider Condominium Tax Accounting and Other Real Estate Tax Policy Issues

Posted on by Trey Jackson

Following the Nov. 6 mid-term elections, a “Lame Duck” session of Congress is expected to consider various tax policies of importance to commercial real estate.   

Several tax issues of importance to real estate may be in play during the November “Lame Duck” congressional session, including  condo tax accounting rules; technical corrections; the cost recovery period for qualified improvement property (QIP);and tax extenders.

  • As part of a potential year-end omnibus spending bill to fund the government, tax policies that may be addressed include condo tax accounting rules; technical corrections; the cost recovery period for qualified improvement property (QIP); and tax extenders.  (Roundtable Weekly, Oct. 12) 
  • Current condo tax accounting rules require multifamily developers of buildings with five or more residential units to recognize income and pay tax on their expected profit as construction is ongoing — well before pre-sale transactions are closed and full payment is due from the buyer.  This mismatch of cash flow and tax liability prevents income tax deferment until a condo building is finished.   Home builders of single-family homes, townhouses and row houses are not subject to this accounting rule restriction. 
  • A House bill introduced last summer by Reps. Carlos Curbelo (R-FL) and Joe Crowley (D-NY) aimed to correct this disparity.  Although the Fair Accounting for Condominium Construction Act (H.R. 3659) stalled in 2017, it could serve as a template for inclusion in year-end tax legislation.  The Real Estate Roundtable supports lawmakers’ efforts to pass H.R. 3659. 
  • Other congressional efforts to ensure that development accounting rules treat condos like other residential construction included a 2016 letter from 10 members of the Senate Finance Committee urging regulatory corrections to former Treasury Secretary Jack Lew. 
  • Roundtable President and CEO Jeffrey DeBoer on April 7, 2017 sent a letter to Treasury Secretary Steven Mnuchin   outlining eight regulatory actions the Treasury Department could take to stimulate new real estate investment, job creation, and economic growth.  Among the recommendations addressed in the letter are tax accounting for new condominium construction; the Foreign Investment in Real Property Tax Act, tax treatment of private real estate funds and partnership tax rules. 

Last week, an article on the condo tax accounting issue in The Real Deal included a quote from Roundtable Senior Vice President & Counsel Ryan McCormick, who commented on the outlook for correcting the current rules.  “Legislation may be the most likely route, in light of all the work ongoing at Treasury with tax reform,” McCormick said.

Roundtable and Business Coalition Seek Administrative Relief, Shorter Cost Recovery Period for Nonresidential Real Estate Improvements

Posted on by Trey Jackson

This week The Real Estate Roundtable, along with 239 businesses and trade groups, wrote to Secretary Mnuchinurging the Treasury Department to provide taxpayers with administrative relief from a drafting mistake in last year’s tax overhaul that increased the cost recovery period for qualified improvement property (QIP).

This week, The Real Estate Roundtable, along with 239 businesses and trade groups,  wrote to Secretary Mnuchin  urging the Treasury Department to provide taxpayers with administrative relief from a drafting mistake in last year’s tax overhaul that increased the cost recovery period for qualified improvement property (QIP).

  • The drafting error in the tax law has resulted in a significantly longer 39-year cost recovery period for new, qualified nonresidential interior improvements.  The intent of Congress was to allow the immediate expensing of QIP – or provide a 20-year recovery period in the case of taxpayers electing out of new limitations on the deductibility of business interest. 
  • In the Oct. 9 letter to Secretary Mnuchin, the coalition addressed the need for a QIP correction, along with the unintended consequences if action is not taken.  The letter raised concerns that the drafting error is resulting in “[d]elays in store and restaurant remodeling projects,” “[b]usinesses refraining from purchasing or leasing vacant stores or other leasehold spaces that require improvements,” and “[l]oss of construction jobs associated with commercial renovation projects.”  
  • The coalition letter was sent in response to the Administration’s request for comments on newly proposed regulationsimplementing the additional first year depreciation deduction (immediate expensing) benefit.  The coalition submission also included two recent letters—one from 16 Democratic Senators to Treasury Secretary Steven Mnuchin and the other from 58 House Republicans to GOP leadership—reiterating the importance for policymakers to correct this unintentional drafting mistake in last year’s legislation, while recommending that Treasury should issue interim guidance and refrain from enforcing the drafting error.  (House Letter, Oct 2 and Senate Letter, Sept 24)
  • The Real Estate Roundtable and a broad-based business coalition urged Secretary Mnuchin in August to issue guidance clarifying certain provisions included in tax overhaul legislation enacted last year – including the cost recovery period for qualified improvement property. (Coalition letter, Aug. 22)

Congress could address the issue during the lame duck congressional session between the mid-term election and January. Senate Republican Conference Chairman John Thune (R-SD) said GOP lawmakers are motivated to address a number of tax issues that are outstanding, including tax reform technical corrections and expired tax provisions. (The Hill, Oct. 11)

 

Roundtable Comment Letter Urges Treasury to Simplify, Streamline New Pass-Through Deduction Regulations

Posted on by Trey Jackson

The Real Estate Roundtable on Monday submitted detailed recommendations to the Treasury Department on simplifying and streamlining  the new 20 percent tax deduction for pass-through businesses. (Roundtable letter, Oct. 1)

The   Real Estate Roundtable on Monday submitted detailed recommendations to the Treasury Department on simplifying and streamlining  the new 20 percent tax deduction for pass-through businesses. (Roundtable letter, Oct. 1)

  • Passed as part of last year’s tax overhaul, the deduction can reduce the top tax rate on qualifying pass-through income, including rental income, to 29.6 percent.  Once it is fully implemented, section 199A will be a powerful incentive for capital investment and job growth.
  • The comment letter from Roundtable President and CEO Jeffrey DeBoer suggests four major simplifications that would provide greater certainty, lessen the need for wasteful restructuring, and reduce taxpayer-government controversies.   

 Trade or business definition  
The final regulations should clarify that rental income from real property held for the production of rents will be considered a trade or business for purposes of section 199A;

Aggregation  
The final regulations should allow taxpayers to treat all qualifying real estate rental activities, whether held directly or through a pass-through entity, as if held in a single “trade or business” for purposes of section 199A;

Non-recognition transactions 
When assets with associated unadjusted basis immediately after acquisition (UBIA) are transferred in a non-recognition transaction (such as a like-kind exchange or the contribution or distribution of assets involving a partnership or S corporation), the general rule should be that the UBIA of an asset (and its duration) carries over; and

Separating trades and businesses 
The final regulations should provide rules to help taxpayers ascertain when multiple activities (including multiple activities conducted in a single entity) constitute discrete trades or businesses.

  • With a few exceptions, last year’s Tax Cuts and Jobs Act limited the pass-through deduction to businesses with employees or capital-intensive businesses that invest in long-lived (i.e., depreciable) assets, including real estate.  This so-called wage/capital limitation applies to partnerships, S corporations, and sole proprietorships, but does not apply to ordinary REIT dividends and income from publicly traded partnerships.
  • During the tax reform debate, The Roundtable’s Tax Policy Advisory Committee (TPAC) formed a task force to review the regulations, analyze their impact on real estate investment and jobs, and craft specific recommendations for policymakers. 
  • The pass-through deduction (section 199A) was a key element of Roundtable President and CEO Jeffrey DeBoer’s testimony before the Senate Finance Committee shortly before lawmakers released the first version of the proposal in the fall of 2017.   (Roundtable Weekly, Sept. 22, 2017)

TPAC will continue to offer insight to Treasury officials and congressional tax-writing committees before final regulations are expected by the end of the year.

 

Senate Democrats and House Republicans Urge Tax Policy Correction for Real Estate Improvements’ Cost Recovery Period

Posted on by Trey Jackson

Two recent letters – one from 16 Democratic Senators to Treasury Secretary Steven Mnuchin and the other from 58 House Republicans to GOP leadership – urge policymakers to fix an unintentional drafting mistake in last year’s tax overhaul that mistakenly increased the cost recovery period for qualified improvement property (QIP).  (House Letter, Oct 2 and Senate Letter, Sept 24) 

The tax policy drafting error currently affects leasehold improvements, expenditures made to improve common spaces in shopping centers and office buildings, and other interior improvements to nonresidential structures.

  • The drafting error in the tax law has resulted in a significantly longer 39-year cost recovery period for new, qualified nonresidential interior improvements.  The original intent of Congress was to allow the immediate expensing of QIP – or provide a 20-year recovery period in the case of taxpayers electing out of new limitations on the deductibility of business interest.  
  • The mistake currently affects leasehold improvements, expenditures made to improve common spaces in shopping centers and office buildings, and other interior improvements to nonresidential structures.  The current, longer cost recovery period effectively increases the after-tax cost of upgrading and improving commercial real estate.  (“Correcting the Drafting Error Involving the Expensing of Qualified Improvement Property” – The Tax Foundation , May 30)     
  • In Monday’s joint letter to House Speaker Paul Ryan (R-WI) and House Ways and Means Committee Chairman Kevin Brady (R-TX), 58 House Republican members state, “While they wait for Congress to act to correct this error, these businesses are forgoing renovations, halting plans to revitalize declining malls, and placing safety improvements on hold.  Not only does this hurt restaurants and retailers, but also the businesses involved in the planning and renovations, and ultimately our communities.  
  • This week’s House letter urges GOP leadership to address the QIP investment drafting error via legislation, while also recommending that Treasury should issue interim guidance while refraining from enforcing the drafting error.  

    Congress could address the issue during the lame duck congressional session between the mid-term election and January.

  • In the Sept. 24 joint letter to Secretary Mnuchin, 16 Senate Democrats address the need for a QIP correction, stating: “Improper implementation of this portion of the 2017 law would cause disruption to a wide range of industries, including the nation’s retail, restaurant and commercial property industries. Given this, and the potential for considerable harm to local economies, we believe it would be prudent for Treasury to address this issue and its interpretation through guidance.” 
  • The Real Estate Roundtable and a broad-based business coalition urged Secretary Mnuchin in August to issue guidance clarifying certain provisions included in tax overhaul legislation enacted last year – including the cost recovery period for qualified improvement property. (Coalition letter, Aug. 22) 
  • Roundtable President and CEO Jeffrey DeBoer stated, “In 2015, Congress voted overwhelmingly to permanently extend the 15-year recovery period for certain property improvements.  By passing tax reform, Congress intended to consolidate those changes.  Treasury should now use its authority to provide taxpayers with relief until a technical corrections bill is enacted.  Treasury guidance will remove taxpayer uncertainty, unlock investment, and spur job-creating property upgrades and renovations.”  (Roundtable Weekly, Aug. 24)

Congress could address the issue during the lame duck congressional session between the mid-term election and January. A number of tax issues are outstanding, including tax reform technical corrections and expired tax provisions.

 

Banking Regulators Invite Comments on Proposed Rule for High Volatility Commercial Real Estate (HVCRE) Loans

Posted on by Trey Jackson

Three federal banking agencies on Tuesday invited public comment on a proposal to modify capital rules for high volatility commercial real estate (HVCRE) exposures – as required by Sec. 214 of the bipartisan Economic Growth, Regulatory Relief, and Consumer Protection Act (S. 2155).  (Roundtable Weekly, May 25)

Three federal banking agencies on Sept. 18, 2018 invited public comment on a proposal to modify capital rules for high volatility commercial real estate (HVCRE) exposures.

  • Following the enactment of S. 2155 on May 24, federal regulatory agencies were tasked with developing a rule to clarify the treatment of High Volatility Commercial Real Estate acquisition, development, or construction (HVCRE ADC) loans in accordance with the new statute. 
  • The law’s changes to the HVCRE capital rules are aimed at clarifying and promoting sustainable acquisition, development and construction and lending by addressing key deficiencies in the agencies’ prior regulations governing the criteria for HVCRE or HVADC loans. (Roundtable HVCRE Comment Letter, March 2) 
  • The proposal by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation also asks for comment on certain terms contained in the revised definition of high volatility commercial real estate.
  • The changes, when finalized, would apply to all banking organizations subject to the agencies’ capital rules. Comments will be accepted for 60 days after publication in the Federal Register.  

Since 2015, The Roundtable’s HVCRE Working Group and industry coalition partners have played a key role in advancing specific reforms to the HVCRE Rule and will develop a comment letter to the agencies in response to the current proposal.

 

New Anti-Terrorism Guide for Commercial Building Security Professionals

Posted on by Trey Jackson

An online anti-terrorism tool to help commercial office building security professionals perform facility assessments was released this week by The Department of Homeland Security’s (DHS) Science and Technology Directorate.  (Facility Executive, Sept. 17).

Businesses filing for SAFETY Act protections can receive Designation and Certification for their Qualified Anti-Terrorism Technology, which can cap their liability.

  • The web-based tool – based on the Best Practices for Anti-Terrorism Security (BPATS) for commercial office buildings – streamlines the application process for building owners seeking to obtain Qualified Anti-Terrorism Technology (QATT) status. (Homeland Preparedness News, Sept. 19) 
  • The BPATS Assessment Tool for Commercial Facilities is a program for evaluating a building’s security system. This assessment approach can be included in support of an application should a building owner chose to seek protections under the  Support Anti-Terrorism by Fostering Effective Technologies (SAFETY) Act. 
  • Businesses filing for SAFETY Act protections can receive Designation and Certification for their Qualified Anti-Terrorism Technology, which can cap their liability. The SAFETY Act was enacted in 2002 because of concerns that liability would hinder investment in the latest security technologies and programs following the attacks of September 11, 2001.  (DHS News Release, Sept. 17) 
  • “With the BPATS, our goal was to develop a comprehensive tool that security professionals could use to assess the anti-terrorism security of commercial office buildings,” said Bruce Davidson, Director of DHS’ Office of SAFETY Act Implementation (OSAI). “The output from their BPATS assessment should enable building leadership to take steps to enhance their building’s security and provide the foundation for a well-structured follow-on SAFETY Act application.” 
  • The preferred users of this tool are trained security professionals whose credentials will be reviewed by the National Institute of Building Sciences before gaining access to the tool. They would be trained in using the checklist to evaluate various components of building security by SAFETY Act standards, including access control, risk awareness, physical security, IT security, and more. The guide spans seven categories, 411 best practices, and approximately 60 associated common practices. 
  • The DHS’ Science and Technology Directorate reached a significant milestone earlier this year approving its 1,000th application for SAFETY Act protection.  The Roundtable’s Homeland Security Task Force has worked constructively with DHS on this issue over the years.  The Task Force will be meeting in two special sessions this fall. 

Publications:

Best Practices for Anti-Terrorism Security (BPATS) for Commercial Office Buildings  

Field Guide: Conducting BPATS Based Assessments of Commercial Facilities

 

Ways and Means Passes “Tax Reform 2.0” Legislation; House GOP Leaders Plan September Floor Vote

Posted on by Trey Jackson

The House Ways and Means Committee yesterday passed “Tax Reform 2.0” legislation along party lines (21-15) that would make permanent individual and pass-through business tax cuts set to expire at the end of 2025.  House leaders plan a full chamber vote by the end of this month to highlight the GOP’s signature economic policy achievement before the November mid-term elections. (House Ways and Means Committee Mark-up Resourcesand Reuters, Sept. 13)

House Ways and Means Chairman Kevin Brady (R-TX) during the “Tax Reform 2.0” mark-up on Sept. 13.

  • The proposed legislation consists of three bills that would make permanent the individual and pass-through business provisions of the Tax Cuts and Jobs Act (P.L. 115-97); boost employer and individual retirement plans; and allow startup businesses to write off more of their costs.  (Ways and Means summary of Protecting Family and Small Business Tax Cuts Act of 2018 – H.R. 6760)
  • House Ways and Means Chairman Kevin Brady (R-TX) commented on the 2.0 package in an interview with CNBC’s Squawkbox, “We expect to have it ready for a floor vote in September. Locking in the permanence, we think, is fair and it’s pro-growth, creating another million and a half new jobs in the long run.”
  • Despite statements by Brady and House Speaker Paul Ryan (R-WI) about a full House vote this month, attracting support from GOP incumbents in high-tax states may be difficult due to a permanent extension of the new cap on federal deductions for state and local tax deductions (SALT).  The tax reform package is also unlikely to pass the Senate without support from Democrats, although the three House bills may be considered separately.
  • The nonpartisan, congressional Joint Committee on Taxation released a report on Sept. 12 estimates that the House’s second round of tax cuts could cost more than $657 billion over a decade. The costs of making the tax cuts permanent alone would cost about $631 billion, according to the report.

The House will be out of session until Sept. 25, which gives Congress four days to pass government funding by Oct. 1 to avoid a shutdown.  Yesterday, House Appropriations Chairman Rodney Frelinghuysen (R-NJ) announced at a meeting of House and Senate conferees that a deal has been reached on a continuing resolution to keep all of the government funded through at least Dec. 7. 

 

EPA to Commence Review Period of New ENERGY STAR Building Scores; Office, Industrial Certifications Temporarily Suspended Pending Further Analysis

Posted on by Trey Jackson

Last month the Environmental Protection Agency (EPA) announced the first updates to its ENERGY STAR scoring models in over a decade, as the agency moved from 2003 to 2012 data for its foundation to rate buildings.  (See Roundtable Weekly, Aug. 17.)  EPA announced yesterday that it will commence a “review period” to solicit stakeholder feedback on these recent ENERGY STAR score updates.  Certifications for office, industrial, and certain other building categories will be temporarily suspended during this review period.

EPA announced yesterday that it will commence a “review period” to solicit stakeholder feedback on recent ENERGY STAR score updates.  Certifications for office, industrial, and certain other building categories will be temporarily suspended during this review period.

  • ENERGY STAR is the key federal label that rates and compares U.S. buildings’ energy performance.  Currently, EPA lists 34,625 buildings and plants, representing more than 5 billion square feet of commercial space across the country, as ENERGY STAR certified.  Through initial analyses of Sustainability Policy Advisory Committee (SPAC) membership, The Roundtable  learned that the application of the new 2012 data appears to result in materially different outcomes on scores depending upon building size, geography, and source of heating, and these outcomes were inconsistent.  RER on behalf of the industry highlighted the issues to the EPA, and the EPA responded with the announced review period.
  •  “The review period will help us ensure that the models are working as intended to deliver energy performance metrics that empower … the business case for owning and operating energy-efficient buildings,” the agency stated.  During the review period, EPA and real estate stakeholders will have the opportunity to assess variables such as a building’s size, location, and fuel mix, to fully consider if these and other factors have had an indiscriminate impact on the new scoring models.
  • “We commend EPA in taking this step toward transparent decision making so our industry can recommend any necessary, data-driven changes to ENERGY STAR’s updated scoring models ,” said Roundtable President and CEO, Jeffrey D. DeBoer.  “The Roundtable and our Sustainability Policy Advisory Committee look forward to partnering with EPA during its review period.”
  • Other federal agencies, state and local governments, and non-governmental organizations frequently rely on ENERGY STAR’s tools and rating system for their own programs related to building energy efficiency.  EPA advised it will “coordinate with program implementers and policymakers that leverage the ENERGY STAR score on the appropriate use of the new metrics during the review period.”

The review period and temporary suspension of ENERGY STAR building certifications do not apply to multifamily, data center, hospital, senior care communities, and manufacturing facilities, according to EPA.

 

Hurricane Florence Magnifies Need to Extend and Reform National Flood Insurance Program

Posted on by Trey Jackson

As Hurricane Florence made landfall this morning near Wrightsville Beach, NC, the storm’s large size and slow speed are expected to produce severe flooding, affecting millions of individuals who have evacuated affected coastal areas and thousands of businesses in the Carolinas.  (National Hurricane Center, Hurricane Florence)

As communities in the Carolinas and beyond contend with catastrophic storm surge, rain deluge, high winds and loss of property, Real Estate Roundtable President and CEO Jeffrey DeBoer expressed concern about the disaster and its victims, encouraging those in the industry to participate in relief efforts.

  • Today, President Trump announced more than 3,800 Federal Employees, including more than 1,000 from the Federal Emergency Management Agency (FEMA), are working with State and local partners to respond to Hurricane Florence.  (White House Statement, Sept. 14)
  • In the wake of last year’s Hurricane Harvey disaster in Texas, policymakers in Washington are again expected to appropriate disaster relief this fall and address legislation reforming the National Flood Insurance Program (NFIP), scheduled to expire on Nov. 30. (Roundtable Weekly, Sept. 8, 2017)
  • As communities in the Carolinas and beyond contend with catastrophic storm surge, rain deluge, high winds and loss of property, Real Estate Roundtable President and CEO Jeffrey DeBoer expressed concern about the disaster and its victims, encouraging those in the industry to participate in relief efforts. 
  • DeBoer stated, “Action is needed to help assist families today and help facilitate recovery for the future. For our part, members of The Real Estate Roundtable, and everyone involved in the broader real estate industry, should do what they can to provide immediate assistance.  The National Voluntary Organizations Active in Disaster (NVOAD) lists organizations where you can donate time, money or other resources.” 
  • “The Real Estate Roundtable has also activated our industry public-private information sharing partnership with the federal government (Real Estate Information Sharing and Analysis Center – REISAC) in an effort to provide ongoing industry updates on a range of critical matters arising from Florence’s landfall – such as search and rescue efforts by the National Guard; anticipated flooding in communities as the storm’s impact moves eastward; refuge information provided by the Red Cross; energy disruptions; and phishing scams on social media,” added DeBoer.
  • As legislation moves on Capitol Hill this fall to extend and reform the NFIP, The Roundtable plans to advocate for reforms that will assist housing re-development in flood-prone areas; help protect the nation’s commercial and multifamily business-owners, their properties, and residents; and foster resilient and cost-effective infrastructure.

    President Trump announced more than 3,800 Federal Employees, including more than 1,000 from the Federal Emergency Management Agency (FEMA), are working with State and local partners to respond to Hurricane Florence.  (White House Statement, Sept. 14)

  • The Roundtable has also advocated for a voluntary exemption for mandatory NFIP coverage if commercial property owners have adequate flood coverage.
  • Under the NFIP, commercial property flood insurance limits are very low – $500,000 per building and $500,000 for its contents.  Lenders typically require this base NFIP coverage, and commercial owners must purchase Supplemental Excess Flood Insurance for coverage above the NFIP limits. A niche market of carriers typically provides this type of excess coverage. The Roundtable and its coalition partners support NFIP reauthorization with the inclusion of provisions that permit the “commercial exemption.”
  • The Real Estate Roundtable and 14 other industry groups urged Congress in a June 12, 2017 comment letter to reauthorize and reform the NFIP to help protect the nation’s commercial and multifamily business-owners, their properties, residents, and the jobs they create from the financial perils of flooding.
  • In November 2017, the House passed the 21st Century Flood Reform Act (H.R. 2874), which would reform and reauthorize NFIP for five years. The bill included: funding for flood mitigation assistance; lower flood insurance rates, support for  the private flood insurance market, modernization of flood zone mapping; and flood mitigation practices for homebuilders and land developers.  However, the measure was not been taken up in committee in the Senate. ( Roundtable Weekly, Nov. 17, 2017)

The Roundtable will continue to work closely with lawmakers and our coalition partners to ensure that the NFIP is renewed prior to its expiration date on Nov. 30, 2018.

EPA Gathers Feedback from Building Owners During “Review Period” for New ENERGY STAR Scoring Models

Posted on by Trey Jackson

The Environmental Protection Agency continues the temporary suspension of ENERGY STAR building certifications, after assessing feedback from a number of building owners and stakeholders. Last month, the EPA announced it would commence a “review period” to solicit building owners feedback on recent ENERGY STAR scoring models, in response to the new model announced in August, which would unfairly downgrade some already certified ENERGY STAR buildings. (Roundtable Weekly, September 14)

The EPA continues the temporary suspension of ENERGY STAR building certifications, after assessing feedback from a number of building owners and stakeholders.

  • ENERGY STAR is the key federal label that rates and compares U.S. buildings’ energy performance.  Currently, EPA lists 34,625 buildings and plants, representing more than 5 billion square feet of commercial space across the country, as ENERGY STAR certified.  Through initial analyses of Sustainability Policy Advisory Committee (SPAC) membership, The Roundtable learned that the application of the new 2012 data appears to result in materially different outcomes on scores depending upon building size, geography, and source of heating, and these outcomes were inconsistent.  RER on behalf of the industry highlighted the issues to the EPA, and the EPA responded with the announced review period.
  • “Revisions to ENERGY STAR are much needed and very important,” said Roundtable President and CEO, Jeffrey DeBoer. “However, to be truly effective the data sources and projections relied upon in the revision must be transparent and reflect industry leading practices. (Wall Street Journal, Oct. 9)
  • During the review period, EPA and real estate stakeholders have the opportunity to assess variables such as a building’s size, location, and fuel mix, to fully consider if these and other factors have had an indiscriminate impact on the new scoring models.  “EPA is looking into concerns raised by industry that score changes for some buildings are different than expected,” said an EPA spokeswoman. (Wall Street Journal, Oct. 9)

“We commend EPA in taking this step toward transparent decision making, and are focused intently on assisting during this review period,” said DeBoer. The Roundtable’s Sustainability Policy Advisory Committee will continue working with the EPA during the remainder of the review period.