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Congress first enacted a tax hike on investments in real property through the
Omnibus Budget Reconciliation Act of 1993 .
Which Congressmen voted for and against the Omnibus Budget Reconciliation Act of 1993
can be reviewed in the
199th Congressional Roll Call. ![]() In summary, the Omnibus Budget Reconciliation Act of 1993 passed by a narrow margin of only 6 votes heavily weighted with Democratic support. All 175 Republicans and 38 Democrates voiced opposition by voting NEA to H. R. 2264 known as "Omnibus Budget Reconciliation Act of 1993". Did H. R. 2264 actually raise taxes? No, there wasn't an actual tax increase as the aurgument goes. However, our Congressmen indirectly increased tax revenues by making a dramatic change in how much of the roof system cost could be deducted by property investors each year. Accordingly, for the past seventeen years, property owners of non-residential commercial properties have been forced to depreciate investsments in real property or roof system assets by a factor three to four times the actual life cycle of the roof which is detailed in CRS Roof Consultants letter(s) to our local congressmen Efforts to correct the injustice is cronicled in the bills outlined on the right since Senate Bill 1679 (Realistic Roofing Tax Treatment Act of 2003) was first introduced during the 108th Congress under the Presidency of George W. Bush. the first Realistic Roofing Tax Treatment Act of 2003 CRS Roof Consultants invite property owners, operators and investors to contact your local Congressmen an insist Congress take immediate action to correct previous injustices by actually voting on H.R. 426: Green Roofing Energy Efficiency Tax Act of 2009 before it too dies like Bills before it because Congress and Associated Committees ignored the Bills until they expired.
Additional references to industry letters, statements and articles published
on the matter can reviewed by following the links below.
Contact your
California Congressional Representatives here.
NRCA - National Roofing Contractors Association: Expense or Capitalize Roof Repairs? US CODE: Title 26, 1250 US CODE: Title 26, 168 Other Industry Publications: Today's Facility Manager - Getting Realistic About Roofing FM Link - Special Report: Energy-Savings Survey BOMA - Position on Roof Depreciation RSI - Does 20-year roof depreciation make sense? Roof depreciation schedule much longer than product's typical life |
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