February 3, 2006—The Building Owners and Managers Association (BOMA) International joins President Bush as he urged Congress during his State of the Union address to renew the tax cut legislation enacted during his first term in office.
The President requested that Congress make permanent the reduced rate on capital gains and the time frame for which cost recovery for leasehold improvements on office property are depreciated. The lowered capital gains tax rate is set to expire after 2008 and the leasehold depreciation recovery provision already expired at the end of 2005; both are top BOMA International legislative priorities.
Founded in 1907, the Building Owners and Managers Association (BOMA) International is an international federation of more than 90 local associations and affiliated organizations. For more on the organization, visit its Web site.
