The NARPM PAC Nominating Committee is now taking applications for the position of NARPM PAC Trustee. They will make recommendations to the NARPM Board of Directors for seven 2-year terms that begin on January 1, 2026. In order to serve, one needs to meet the following qualifications:
- Must maintain NARPM Membership in good standing in NARPM.
- Should have an active interest in the political process and try to be knowledgeable of political activity in the community.
- Must not have a political party conflict of interest.
- They cannot serve as an elected or appointed leader (including but not limited to an officer, precinct chair, platform committee member) for a political party committee on the local, state, or national levels.
- Must not be actively campaigning for federal political office.
- Should have an appreciation for the importance of NARPM PAC.
If you are interested in serving, please complete the 2026 NARPM PAC Trustee Application no later than COB on August 29, 2025.
The House and Senate Appropriations Committees have each passed their respective versions of the FY26 Transportation, Housing, and Urban Development (THUD) Appropriations Bill. As the government approaches the end of the fiscal year on September 30, 2025, we are closely monitoring developments in the appropriations process and how they may impact property managers and the owners they serve.
At this point, several options exist for funding the government beyond September 30:
- Passage of all 12 appropriations bills — something that hasn’t occurred since 1995.
- A continuing resolution (CR) — which would temporarily fund the government, potentially for the full fiscal year.
- An omnibus appropriations bill — combining multiple appropriations bills into one large package (or several smaller “mini-bus” bills).
Regardless of the path Congress takes, we will continue to advocate for the inclusion of language that repeals the pandemic-era federal requirement for a 30-day notice to vacate.
House Appropriations FY26 THUD Summary
Senate Appropriations FY26 THUD Summary
NARPM has joined over 100 organizations in endorsing the Build More Housing Near Transit Act, introduced yesterday. This bipartisan, bicameral legislation aims to increase housing supply through several key measures:
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Incentivizing Pro-Housing Transit Projects: Directs the Secretary of Transportation to enhance a transit project’s rating if it includes pro-housing policies along its route.
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Defining Pro-Housing Policies: Establishes criteria for pro-housing policies, including:
- Removing regulatory barriers to housing construction or preservation
- Reducing or eliminating parking minimums and minimum lot sizes
- Implementing by-right approval processes for multi-family housing
- Committing substantial public property to affordable housing development or preservation
- Eliminating or raising residential property height limits
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Evaluating Pro-Housing Commitments: Engages the Department of Housing and Urban Development to develop a methodology for assessing the strength of pro-housing policies included in DOT Capital Investment Grant (CIG) applications.
This legislation is sponsored by Representatives Scott Peters (D-CA) and Blake Moore (R-UT), and Senators Brian Schatz (D-HI) and Jim Banks (R-IN).
Coalition Letter in Support of the Build More Housing Near Transit Act
Introduction Announcement from Congressman Peters
The “One Big Beautiful Bill” (O3B) has officially been signed into law. This reconciliation package includes several key provisions that protect and enhance the interests of NARPM:
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.
Earlier today, the U.S. Senate narrowly passed the budget reconciliation bill formally titled the “One Big Beautiful Bill Act” (O3B). The vote was split 50-50, with Vice President JD Vance casting the tie-breaking vote.
Key Wins for NARPM Advocates: The Senate version of the bill includes several provisions aligned with NARPM’s priorities:
- No changes to 1031 exchanges
- No changes to carried interest provisions
- No limitations on the corporate SALT deduction, including local property taxes on rental properties
- Preservation and expansion of the Qualified Business Income (199A) deduction, maintaining the 20% rate and adding a floor to benefit small businesses
Next Steps: The bill now returns to the House, which is scheduled to consider the Senate version tomorrow, July 2. While the Senate made some changes—particularly around Medicaid—that may cause friction, Republican leadership is pushing for swift passage to meet the informal July 4 deadline set by the White House
We will continue to monitor developments closely and keep you informed as the legislative process unfolds.
The Senate Finance Committee has released the bill text for the tax portion of the Senate’s reconciliation bill. Like the House version, it is notable for what it does not include: changes to 1031 exchanges, taxes on unrealized gains, and modifications to carried interest provisions. Below are some key provisions of interest:
SALT – There is no imposition of corporate SALT limitations, including no restrictions on the deductibility of property taxes paid by rental property owners. The SALT cap for personal taxes remains at $10,000, consistent with current law. In contrast, the House proposal raises the cap to $40,000. The Senate has described its proposal as a “placeholder,” anticipating further negotiations on this issue.
QBI Deductions – The Senate plan makes permanent the 20% deduction for Qualified Business Income (QBI). It also introduces a minimum deduction of $400 for taxpayers with at least $1,000 of QBI from one or more active trades or businesses in which the taxpayer materially participates. This minimum would be adjusted for inflation. The House proposal increases the deduction to 23% but does not include a minimum deduction.
Senate Finance Tax Reform Landing Page (links to the bill and summaries)
In a victory for NARPM® Advocacy, Nevada Governor Joe Lombardo has vetoed two pieces of legislation that would have been very detrimental for Nevada property managers and owners.
The first proposal would have created disparate impact liability for housing providers in Nevada, thereby creating uncertainty and unnecessary legal exposure for property owners and small businesses in Nevada. Almost 200 NARPM-Nevada members participated in a NARPM Call to Action to ask the Governor to veto this legislation, and the Nevada State Chapter of NARPM sent a letter to the Governor laying out the case for a veto.
The second would have proposed sweeping changes to Nevada’s landlord-tenant laws under the banner of expanding tenant protections. This legislation raised serious concerns about fairness, rent accountability, and unintended consequences that could affect both housing providers and tenants. Over 400 NARPM-Nevada members participated in a NARPM Call to Action to oppose this legislation.
Thank you to all the NARPM members who worked hard to make this happen, and congratulations to the Nevada State Chapter on a major victory for property managers in Nevada.
Governor Lombardo’s Veto Message for AB480 (Disparate Impact)
NARPM Letter Opposing AB480
Governor Lombardo’s Veto Message for AB223 (Tenant Protections)
Florida has approved legislation allowing a landlord or tenant to deliver required notices to the other party electronically via email if the parties agree in writing to such electronic delivery and provide a valid e-mail address for such purpose. This legislation was a key legislative priority for Florida NARPM this year. The legislature gave final approval to the proposal on April 16, and the Governor signed the bill into law on April 29.
HB 615 as Approved
Welcome to NARPM’s Legislative Updates page. Here you’ll find clear, timely briefings on the bills, ordinances, and regulatory shifts shaping residential property management nationwide. We monitor state and federal activity and distill the essentials—what’s changing, why it matters, and how to prepare—so you can focus on running your business with confidence.
