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JULY 2010
Recently there has been congressional movement on the issue of the estate tax. Senators Bernard Sanders, Tom Harkin, and Sheldon Whitehouse have introduced the "Responsible Estate Tax Act, Senate Bill 3533." In the United States House of Representatives, Representative Linda Sanchez has introduced a mirror image of the bill, the "Responsible Estate Tax Act, House Bill 5764." The bills, if enacted into law in their present form, would provide a $3.5 million exemption per individual, with a progressive rate structure. Read more.
Local aggregate producers had a big win on July 21, 2010, when the House Education and Labor Committee, considering laws designed to overhaul the Mine Safety Health Administration ("MSHA"), voted H.R. 5663 out of committee with a provision that specifically excludes most surface mines from the new Robert C. Byrd Miner Safety and Health Act. Read more.
Commercial tenants, under pressure of the current economic recession, are renegotiating rents in unprecedented numbers. This is an opportunity for owners to cleanup leases, preserve value, and prepare for the next round of financing or sale. We continue to see leases that require significant amendment to facilitate financing or sale. Owners should seize the chance to address problems during rent renegotiations. Read more.
Off the Record is a business newsletter published periodically for the clients and friends of the law firm Jordan Schrader Ramis PC. The information contained in this newsletter is necessarily presented in summary form and should not be relied on as a substitute for direct attorney consultation.
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