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TIC Industry Mobilizes in Face of Budget Scare

WASHINGTON, DC—Congress, budgetary knives at the ready, is eyeing the TIC sector with hunger in its eyes. The industry isn't flinching.

By Michelle Napoli | Updated on May 09, 2006

(For the full story, please click on the latest issue of TIC Monthly) .

WASHINGTON, DC-Last week was a rollercoaster ride of sorts for the TIC industry. On Tuesday a proposal floated into the closed-door Congressional budget reconciliation meeting that, if adopted, could have a devastating impact on the market and its participants.

The exact language of the proposal remains elusive, but from what a variety of TIC industry sources have been able to gather, among potential revenue raisers floated by the Senate Committee on Finance to help bridge the budget-tax revenues gap was a proposal that would deem tenant-in-common investment interests not like-kind property for 1031 exchange purposes. There were some accounts that the proposal specifically targeted securitized TIC interests.

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