O3B Signed into Law – Contains Important Provisions for NARPM

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.