While the legislation overall is considered a mixed bag by the banking and real estate industries, tax provisions of the budget reconciliation legislation that Congress was expected to pass by Aug. 5-6 contains provisions called a win-win for real estate-related investments and investors.

The provisions will treat real estate professionals the same as other business professionals under so-called "passive loss rules," facilitate debt workouts and restructurings, remove obstacles to prudent pension investment in real estate and encourage affordable housing availability.

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