Our Mission

Learn who we are and how we serve our community


Meet our leaders, trustees and team

ICSC Foundation

Support up-and-coming professionals

ICSC Exchange

Catch up on industry ideas, news and views


Check out wide-ranging resources that educate and inspire

Global Public Policy

Learn about the governmental initiatives we support


Connect with other professionals at a local, regional or national event

Professional Development

Grow your skills online, in a class or at an event with expert guidance

Find Members

Access our Member Directory and connect with colleagues

Find Outlets

Get data and contact information for shopping outlets

Talent HQ

Search and post jobs, upload your resume or find qualified candidates

Become a Member

Learn about how to join ICSC and the benefits of membership

Renew Membership

Stay connected with ICSC and continue to receive membership benefits

Global Public Policy

Tax reform update: QIP fix under consideration

November 16, 2018

House Ways and Means Committee Chairman Kevin Brady (R-TX) is drafting a package of corrections to last year’s tax reform bill, the Tax Cuts and Jobs Act (TCJA). Republicans hope to include these changes in year-end legislation. However, there is pushback from their Democratic counterparts, creating doubt about whether something can be done this year.

The package would include a fix for the depreciation period for leasehold improvements. In the TCJA several separate categories of property improvements – leasehold, restaurant, and retail – were combined under a new definition called “qualified improvement property” (QIP). QIPs were intended to be depreciated over 15 years. Due to a drafting mistake, however, these improvements must be depreciated over 39 years.

This error affects shopping center owners and tenants who make updates to the components of their buildings – including internal partitions, lighting, plumbing, flooring and communication outlets – in order to meet the specific needs of their new and existing tenants and to comply with government regulations.

Fixing this error is a priority for ICSC. Please click here to send an email to your Members of Congress and ask them to fix QIP this year.

Phillips Hinch

Vice President, Tax Policy