The recently unveiled bipartisan “Invest in America Act” would attract as much as $125 billion in global investment in aging buildings and crumbling infrastructure in the U.S., according to supporters of the federal legislation.
The bill is supported by The American Institute of Architects (AIA) and The Real Estate Roundtable (RER). It could create as many as 284,000 American jobs, sponsors say.
The legislation would repeal the “Foreign Investment in Real Property Tax Act” (FIRPTA). First enacted in 1980, FIRPTA is a tax that “deflects global capital from U.S. cities and towns by imposing a capital gains tax on global investors that finance any U.S. real property,” according to an AIA news release.
The law “greatly inhibits state and local leaders from partnering with global investors—in addition to leveraging domestic partners—to improve their communities, including renovating aging buildings; constructing roads, bridges, tunnels, hospitals and airports; developing affordable housing; and utilizing new Opportunity Zones,” the release says.
Related Stories
| Jun 2, 2017
Accelerate Live! talk: How maker culture is transforming Sasaki’s design practice
Sasaki’s Pablo Savid-Buteler and Brad Prestbo talk about how the firm’s maker initiatives are changing the way Sasaki goes to market, and how they are helping the firm win new business.
| May 30, 2017
Accelerate Live! talk: The ROI of innovation culture, Russ Sykes, SmithGroupJJR
Russ Sykes discusses SmithGroupJJR’s ongoing journey to create a firm culture that ignites innovation and propels change across all levels of the organization.
| May 30, 2017
Accelerate Live! talk: Finding the money for your clients' projects, Paul Westlake, Jr., DLR Group|WRL
Architect Paul Westlake, Jr., shares his methods for adding value to projects through creative financing.
| May 30, 2017
Accelerate Live! talk: Health-generating buildings, Marcene Kinney, Angela Mazzi, GBBN Architects
Architects Marcene Kinney and Angela Mazzi share design hacks pinpointing specific aspects of the built environment that affect behavior, well-being, and performance.
![Sun, sky brightness, and glow: Making the most of daylight [AIA course]](/sites/default/files/styles/list_big/public/datylight.jpg?itok=akEDpIQ8 "Sun, sky brightness, and glow: Making the most of daylight [AIA course]")
Daylighting | May 30, 2017
Sun, sky brightness, and glow: Making the most of daylight [AIA course]
To some project teams, “daylighting” means using glass area to admit direct sunlight, period.
![Security begins when you close the door [AIA course]](/sites/default/files/styles/list_big/public/security.jpg?itok=NVwecLpz "Security begins when you close the door [AIA course]")
Security/Fire Protection | May 30, 2017
Security begins when you close the door [AIA course]
Selecting door and window systems for any building project demands a complete articulation of safety and security concerns.
Codes and Standards | May 30, 2017
Industry Groups move toward Unified Green Building Model Code in 2018
The effort involves combining ASHRAE's Standard 189.1 with the International Green Construction Code.
Codes and Standards | May 30, 2017
Florida preparing to adjust to new building elevation requirements
New floodplain maps and state code changes loom.
Codes and Standards | May 30, 2017
Heated debate over whether Calif.’s prevailing wage requirement stymies affordable housing
There’s disagreement around how much pay regulations add to cost of projects.
Reconstruction & Renovation | May 30, 2017
Achieving deep energy retrofits in historic and modern-era buildings [AIA course]
Success in retrofit projects requires an entirely different mindset than in new construction, writes Randolph Croxton, FAIA, LEED AP, President of Croxton Collaborative Architects.
