On April 9 and 10, over 300 members of IREM and CCIM Institute will take their annual trip to Capitol Hill. We turned to IREM chief legislative and research officer Chuck Achilles to learn about the three most important issues the groups will tackle this year.

1) Carried Interest and Capital Gains Taxes

Well, not every issue can be as sexy as House of Cards.The carried interest rate recently increased to 20% for individuals with an adjusted gross income of more than $400k and married couples with more than $450k (those below still pay 15%). This affects both owners and investors, says Chuck, above. Real estate partnerships are often LLCs; the general partner receives compensation and fees that are taxed as ordinary income, while limited partners receive both ordinary income from operations and capital gains. General partners need to continue to pay capital gainstreatment for anycarried interest of a real estate partnership. If they don't, it may drive investors elsewhere since they can no longer earn a reasonable profit in real estate.IREM and CCIM Institute oppose any proposal eliminating capital gains treatment for any carried interest of a real estate partnership.

2) Internet Sales Taxes

Both chambers have similar bills on how online retailers should collect sales tax. This affects both brokers and property managers involved in shopping centers. Some states have lost hundreds of millions in taxes, Chuck says, which may increase other taxes and fees. The brick-and-mortars are at disadvantage, he says, as consumers perceive theyre getting a discount online, even though theyre technically supposed to pay an equivalent use tax annually. (In their defense, everyone went online to pay it, but was distracted by a sale at Bonobos.)IREM and CCIM are urging Congress to support H.R. 684 and S. 336 to modernize tax policy and equalize online and brick-and-mortar retailers.

3) Lead Paint In Commercial Buildings

Here's last year's group, which clocked 213 meetings. The Toxic Substance Control Act includes a provision that requires the EPA to promote guidelines for renovation activities that may create a risk of lead exposure in public and commercial buildings constructed before 1978. After being subject to lawsuits about the EPA focusing only on multifamily, the EPA is now working on the commercial issue. But before any regulations are put in place, IREM and CCIM would like to see a Congress-mandated study of renovation, repair, and painting programs in such buildings and to the extent in which they cause lead hazards; the groups would like members of Congress to write to the EPA and ensure it ID'd actual hazards before any regs are put in place.