An issue we have been monitoring and educating on for more than two years, continues to evolve. The ever-complicated Dark Store legislation that was introduced in 2017, has been placed in the 2019-21 Wisconsin State Budget. Big picture, the legislation seeks to curb strategies used by major retailers to reduce tax assessments on their properties. … Read More
Legislative
2019-21 Wisconsin Budget Items CARW will be Monitoring
On February 28, 2019, Governor Tony Evers released his 2019-2021 biennium budget. The budget includes a wide range or policy changes and reversal of several measures that impact commercial real estate and job creation. The $83 billion budget raises taxes overall by $550 million over the next two years and includes many items touted during … Read More
IRS Holds Opportunity Zone Hearing
By Erin Stackley, NAR On Thursday, February 14, the IRS held a public hearing on Qualified Opportunity Zones (QOZ), seeking input relating to the first round of proposed rulemaking for the program, released in October 2018. (The hearing was originally scheduled for January, but had to be rescheduled due to the partial government shutdown.) Witnesses … Read More
Commercial Real Estate and Government Day – Save the Date – April 24, 2019
One of the most important engagements of the year is Commercial Real Estate and Government Day. This year, the event will be held on Wednesday, April 24th in Madison*. By participating in this fast-paced, half-day event, you have the opportunity to meet your elected state representatives, establish and strengthen relationships, and ensure key policy proposals … Read More
Will 2019 Deliver Dark Store Solutions?
The tax assessment process in Wisconsin has been the focus of discussion and legislation since the bills were introduced. While legislation was not put forth during the last legislative session, a legislative study committee was formed. The purpose of the committee was to review and develop options for tax assessment policy that allow stakeholders to create … Read More
Tax Win: IRS Provides Clear Test on How 20% Deduction Applies to Rental Income, Exchanges
The Internal Revenue Service has issued final rules on the 20 percent business income deduction (Sec. 199A of the Tax Code) that was enacted in late 2017 as part of the Tax Cuts and Jobs Act. Among other things, the rules confirm that the deduction applies to your business income, as a real estate agent … Read More
Infrastructure, Health Insurance Among 2019 National REALTOR® Policy Priorities
The National Association of REALTORS® (NAR) continues to be at forefront of discussions as Congress and the White House seek agreement on a comprehensive national infrastructure package next year. The effort to ensure the voice of REALTORS® is heard as the federal government turns its attention to infrastructure is a top federal public policy priority … Read More
Big Win for REALTORS® on IRS Guidance for 20% Income Deduction
If you were tuned to the news Aug. 8 you might have heard the IRS released proposed regulations on the new 20 percent business income deduction for pass through businesses. IRS summary with link to FAQ. Proposed rules. The deduction was part of the big tax reform law Congress passed at the end of last … Read More
Tax Reform Update and Opportunity Zones for Construction Contractors and Real Estate Businesses
On Wednesday, July 11, Brenda Graat of Baker Tilly presented a tax reform update. She presented key tax reform takeaways for construction contractors and real estate businesses. Graat also explained the Opportunity Zones Tax incentives for investing in low-income communities and the benefits to them. The 2017 Tax Cuts and Jobs Act established Opportunity Zones to spur private … Read More
“Dark Store” Property Tax Assessment Committee Finalized
“Dark Store” Property Tax Assessment Committee Finalized The Joint Legislative Council voted to approve the proposed membership of the 2018 Legislative Council study committee on Property Tax Assessment Practices. Members of CARW have been engaged on this issue for more than a year. We are pleased that Jeff Hoffman of Cushman & Wakefield/The Boerke Company … Read More
Washington, D.C. Legislative Meetings and Hill Visits | Regulatory Reform, EB-5, Federal Energy Tax Deduction
CARW Leaders participated in the NAR Mid-Year legislative meetings and hill visits in Mid-May. Ben Adank (SARA Investment Real Estate), Curt Pitzen (NAI MLG Commercial), Steve Pape (Founders 3 Real Estate Services, Adam Williquette (Anderson Commercial Group) and Tracy Johnson (CARW) joined members from State of Wisconsin REALTOR® associations and the WRA leadership to meet with … Read More
What the Latest Banking Reform Regulation Means for Construction Financing (Tri City National Bank)
On May 24th the President signed into law S. 2155, the “Economic Growth, Regulatory Relief, and Consumer Protection Act”. In that legislation real estate professionals should look at the changes in High Volatility Acquisition Development and Construction (HVCRE). These changes remove hurdles and make it less complicated to provide construction financing. Banks will keep their … Read More
State Real Estate Issues | 68 Legislative Priorities Passed Into Law
The Commercial Association of REALTORS® Wisconsin, in its affiliation with the Wisconsin REALTORS® Association, benefits from the strength and breadth of the industry’s advocacy efforts each legislative session. These actions support not only individual members but economic development and the elimination of regulatory barriers that incumber growth across the State. More than 15,000 members in … Read More
ALERT – Historic Tax Credit Bill Signed Into Law
On Monday, April 16, Governor Walker signed into law SB 668 (ACT 280), to increase the cap for the historic tax credit from $500,000 to $3.5M per project. The change received bipartisan support following a proposed per-project cap of $500,000 in the latest budget. This has been a long-fought process that has garnered widespread interest … Read More
Wisconsin is Open for Business
Wisconsin is Open for Business The U.S. Treasury Approves Wisconsin’s Economic Opportunity Zone Designations The U.S. Treasury approved the first round of designated qualified Economic Opportunity Zone (EOZ) areas in 15 states, including Wisconsin’s 120 EOZ designations. This is great news for Wisconsin! WHEDA is well-positioned to put this new federal resource into action … Read More
OSL – FAQ – Commercial Form
FAQ: Practice by Out-of-State Licensees (OSL) How does Wisconsin’s Out‐of‐State license (OSL) law impact how I interact with OSL brokers? The legislation offers the opportunity in different situations for a Wisconsin firm to either: enter into a referral arrangement with the OSL OR enter into a cooperative agreement with the OSL How will the … Read More
Changes to AB 812 | Vacant Land Disclosure Report
AB 812 is legislation recently passed by the legislature and is waiting for the Governor’s signature that modifies both the residential real estate condition report and the vacant land disclosure report. Once signed, these changes become effective July 1, 2018. The vacant land disclosure report is modified by AB 812 in the following ways: … Read More
EB-5 Legislative Update
First Pathway Partners March 23, 2018 – Early Friday U.S. Congress passed, and President Trump later signed, an extension to the EB-5 regional center program through September 30, 2018 as part of the Omnibus budget package. Although Congress was expected to make changes to the program it has been extended in its current form, … Read More
Latest Legal Resources
As a REALTOR®, your everyday business transaction are legal in nature, And the WRA is here to help! Your REALTOR® CARW membership includes access to various WRA legal resources, all designed to ensure that you practice real estate legally and correctly. Legal Hottips Listing contract or listing firm’s permission now needed to advertise property. … Read More
Watch Oral Arguments in Important TIF Case Before Supreme Court
Watch Oral Arguments in Important TIF Case Before Supreme Court Recorded by WisconsinEye League of Wisconsin Municipalities By Claire Silverman, Legal Counsel, League of Wisconsin Municipalities Last Friday, the Wisconsin Supreme Court heard oral arguments in Voters with Facts v. City of Eau Claire, a case that has the potential to affect Wisconsin’s Tax Increment Financing … Read More