Legislative Wins for the Buildings Industry

摘要

In recent years Congress has earned a reputation for partisan bickering and an inability to pass legislation - but 2015 was different. In fact, 2015 was great for the commercial real estate industry, with major legislative victories at its beginning and end. Last January, legislation to extend the Terrorism Risk Insurance Act (TRIA) passed both the House and the Senate. It was signed into law by President Obama on Jan. 12, 2015. In addition to extending the program for an additional six years (through Dec. 31, 2020), the legislation also gradually increases the loss threshold that triggers federal assistance from $100 million to $200 million. The extension of TRIA is a tremendous win for the commercial real estate industry.