(Editor’s note: News releases are published as submitted unless there are errors of fact.)
The Arizona chapter of NAIOP, the commercial real estate development association, just released its 2020 legislative agenda.
The 2020 election will shape many of the policy discussions at the Arizona Legislature this coming year. NAIOP is ready to engage in important debates related to tax policy, education funding and economic freedom.
High-quality schools and a skilled workforce are crucial for economic development and for attracting and expanding businesses.
“We support providing Arizona’s public education systems with the resources they need to improve academic outcomes and increase the number of highly-skilled individuals,” said NAIOP Arizona President and CEO Suzanne Kinney. “However, this must be done without damaging the competitive tax and economic environment Arizona has worked so hard to build.”
Specifically, NAIOP will work to ensure that any proposed new revenue streams for education are equitably applied to all taxpayers and do not place a disproportionate burden on the commercial real estate industry.
NAIOP strongly believes that any new expenditures for public education should include accountability measures and fund programs that are proven to improve academic outcomes. Funding should address labor shortages in construction and the skilled trades by supporting Career and Technical Education and apprenticeship programs.
As always, NAIOP Arizona will oppose legislation that could increase taxes, fees and regulations for the commercial real estate industry. The association will oppose measures that unduly interfere with the right to contract in commercial construction or otherwise limit long-standing economic freedoms.
Reducing the commercial property tax assessment ratio remains one of NAIOP’s top policy priorities. The association also supports protecting existing economic development tools for projects that create jobs and contribute to regional economic growth.
The state budget has a projected surplus of $170 million in ongoing monies and another $475 million in one-time, non-recurring funds.
“NAIOP supports responsible budgeting that keeps taxes competitive while investing in much-need capital improvements,” Kinney said. “Now is an excellent time to invest in modernizing our transportation infrastructure to facilitate the movement of goods and people.”
Read NAIOP Arizona’s full 2020 Legislative Agenda here.
About NAIOP
NAIOP, a 19,000+ member organization in North America, advocates responsible commercial real estate development and advocates for effective public policy. It is the leading organization for developers, owners and related professionals in office, industrial, retail and mixed-use real estate. NAIOP provides unparalleled industry networking and education, and advocates for effective legislation on behalf of our members.
