NARPM Leaders Advocacy Talking Points
O3B Signed into Law – Major Wins for NARPM and Housing Providers
The “One Big Beautiful Bill” (O3B) has officially been signed into law—marking a significant legislative victory for housing providers and NARPM. This reconciliation package includes several key provisions that protect and enhance the interests of our industry:
Key Wins in the O3B Legislation:
- 1031 Exchanges Preserved: No changes were made, ensuring continued flexibility for real estate investors.
- Carried Interest Provisions Unchanged: A major win for investment and development communities.
- Corporate SALT Deduction Maintained: No new limitations, including for local property taxes on rental properties.
- Qualified Business Income (199A) Deduction Expanded: The 20% deduction is preserved, with a new floor added to benefit small businesses.
- Opportunity Zones Enhanced and Made Permanent: Long-term certainty for investors and communities.
- 100% Bonus Depreciation Restored and Made Permanent: Businesses can fully deduct the cost of qualified property in the year it’s placed in service.
- Section 179 Expensing Limits Increased: Small businesses can now expense more equipment purchases upfront, improving cash flow and investment capacity.
What’s Next?
Attention now turns to the FY2026 Appropriations Bills, which present new opportunities for NARPM and other housing stakeholders to advocate for policies that support housing providers and the communities they serve.
What NARPM is Tracking in DC, the States, and Your Community – Updated with state-by-state local tracking
The NARPM Advocacy team tracks legislation and actions at the federal, state, and local levels. All of that information can be found in the NARPM Action Center. On the state tracking sheet, you can click on states to filter the state(s) you want to see. There is a toggle at the top to hide the map so you can see the table at the bottom better. You can download a spreadsheet of the bills displayed. Here is a video of how to use the state tracking sheet. On the local sheet, you can click on the state you want to view, and then you can use the filter function to narrow down by locality and/or keyword.
