to spend $150 billion over the next decade to promote energy from the sun, wind and other renewable sources as well as energy conservation. Plans include raising vehicle fuel-economy standards and subsidizing consumer purchases of plug-in hybrids. Obama wants to weatherize 1 million homes annually and upgrade the nation's creaky electrical grid. His team has talked of providing tax credits and loan guarantees to clean-energy companies.
His goals: create 5 million new jobs repowering America over 10 years; assert U.S. leadership on global climate change; and wean the U.S. from its dependence on imported petroleum.
Multiple states have recently passed laws regulating Qualified Intermediaries, and we've now made the text of these bills available for download.
We've talked elsewhere about how businesses in all industries can leverage 1031 Like-Kind Exchanges (LKEs) to help them green their operations. The situation goes something like this:
March 26, 2009
(Denver) Colorado House Bill 09-1254, sponsored by State Representative Joel Judd and State Senator Ted Harvey, has been unanimously passed by the 67th General Assembly of the State of Colorado. This legislation is designed to create consumer protections relating to Section 1031 Like-Kind Exchanges facilitated by Qualified Intermediaries (QI) and Exchange Accommodation Titleholders, otherwise known as Exchange Facilitators.
BY: MARY LOU SCHWAB CPA, CES
Many issues with lending can create unplanned legal or tax consequences and at times may prohibit a mortgage from being funded at closing.
Check out the following lending issues prior to your 1031 exchange transaction: