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Proposed Legislation › Vacant Properties

Buchalter

California’s Proposed Vacancy Tax Bill Watered Down to Reporting Requirement

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A bill recently introduced in the California State Senate would have imposed a tax on commercial buildings that have prolonged vacancies, but has been rewritten after facing strong opposition. Authored by California State...more

Buchalter

Vacancy Tax on Commercial Property Proposed in California

Buchalter on

A recent bill introduced in the California State Senate would impose a tax on commercial buildings that have prolonged vacancies. Authored by California State Senator Caroline Menjivar, SB 789 is intended to discourage...more

Husch Blackwell LLP

Proposed Federal Legislation Aims to Address Underutilized Commercial Real Estate

Husch Blackwell LLP on

Earlier this summer, bipartisan legislation was introduced in the U.S. House of Representatives aimed at spurring the redevelopment of existing underutilized or vacant commercial properties and converting them for residential...more

Kohrman Jackson & Krantz LLP

“Residents First” Proposal Introduced to Cleveland City Council

Kohrman Jackson & Krantz LLP on

This month, a proposal dubbed the “Residents First Legislative Package” (the “Proposal”) was introduced to Cleveland City Council. The Proposal is aimed at combatting vacant and dilapidated buildings in the City of Cleveland...more

Greenbaum, Rowe, Smith & Davis LLP

New Jersey Moves to Establish Database of Available Commercial Real Estate Properties

Greenbaum, Rowe, Smith & Davis LLP on

What You Need to Know- •Governor Murphy is now considering legislation that would establish a Vacant Storefront Registry Program database of commercial real estate that is available for purchase or lease by small businesses...more

Herbert Smith Freehills Kramer

Hotel and Office Conversions — an Update

Herbert Smith Freehills Kramer on

Since January 2021, multiple proposals were introduced in the New York State legislature to permit underutilized hotel and/or office buildings, many of which have become financially distressed due to the COVID-19 pandemic, to...more

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