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OH SCR25
Concurrent Resolution
Status
5/27/2010
Primary Sponsor
Bob Gibbs
Click for details
AI Summary
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Urges Congress and the President to maintain current capital gains tax treatment for promoted or carried interest used by real estate partnerships
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Argues that changing this tax treatment to ordinary income would discourage real estate partnerships from investing in Ohio, particularly in distressed communities
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States that partnerships are essential for real estate development to manage investment risk and support urban revitalization, brownfield remediation, and mixed-use projects
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Commits Ohio's General Assembly to working with Congress and the Administration on addressing economic challenges facing cities and states
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Directs the Senate Clerk to transmit copies of this resolution to the President, Congress, Ohio Congressional delegation, the Governor, and Ohio news media
Legislative Description
To memorialize the Congress and the Administration of
Last Action
Passed 3rd Consideration House
5/27/2010