Home / Knowledge / News / NRF urges house to renew store remodelling legislation
NRF urges house to renew store remodelling legislation
22
May '08
The National Retail Federation urged the House to pass legislation that would extend a four-year-old law that has made it easier for retailers to remodel some of their stores, saying the help is needed more than ever in the current economy and needs to be expanded to all stores.

“Retailers generally remodel their stores every five to seven years in order to maintain customer interest and to compete with newer stores,” NRF Senior Vice President for Government Relations Steve Pfister said. “In the current economic climate, some retailers look at remodeling as a way to revitalize a failing store, but the anticipated return has to pay for the costs involved. When the costs must be written off over nearly four decades, it is much more difficult to make the decision to remodel.”

Pfister's comments came in a letter to members of the House, which is scheduled to vote on H.R. 6049, the Energy and Tax Extenders Act of 2008. Sponsored by Ways and Means Committee Chairman Charles Rangel, D-N.Y., the bill would retroactively renew about three dozen tax provisions that expired at the end of 2007, along with a number of energy-related tax incentives scheduled to expire at the end of 2008.

Of key interest to retailers is a provision first passed in 2004 that allows retailers who lease their stores to depreciate remodeling and other improvements over 15 years rather than the previous 39 years, resulting in a significant tax savings that makes the work more economically feasible. The provision expired December 31, 2007, but the Rangel legislation would renew it retroactively and extend it through December 31, 2008.


Must ReadView All

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Vietnam’s textile & garment exports cross $26 bn till Nov

Textiles | On 18th Dec 2017

Vietnam’s textile & garment exports cross $26 bn till Nov

Vietnam earned $26.844 billion from textile and garment exports in...

Rotex Fabrics grows production with Bruckner stenters

Textiles | On 18th Dec 2017

Rotex Fabrics grows production with Bruckner stenters

The South African company, Rotex Fabrics, which is a knitter, dyer,...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search