Proposed Tax and Recording of Mezzanine Debt and Preferred Equity Investments - Joint Mezz Letter

3/23/2021  ·  by CRE Finance Council  ·  Tax Reform  ·  Comment Letters and Testimony

The undersigned organizations are writing to you to oppose companion mezzanine debt tax and preferred equity tax legislation included in Senate and Assembly budget proposals.1 We believe the enactment of these taxes would exacerbate the affordable housing challenges in New York and effectively increase rents on low to middle-income New York families and small businesses, at a time when they can least bear that increase.

Tags: Tax  ·   Credit  ·   Mezzanine  ·   Debt  ·