A rendering of improvements to 201 Broadway in Cambridge. Image courtesy of Elkus Manfredi Architects

Commercial landlords will get a tax break on building upgrades under the stimulus package awaiting final approval by the U.S. House of Representatives.

NAIOP, the commercial developers’ industry group, said the $2 trillion stimulus package in response to COVID-19 will benefit landlords by enabling them to immediately write off costs for interior capital improvement programs in non-residential buildings under the qualified improvement property section of the 2017 Tax Cuts and Jobs Act. Previously, landlords were required to spread the depreciation over 39 years.

“This correction is a top NAIOP federal priority and its inclusion is a result of our efforts over the last two years,” NAIOP president Thomas J. Bisacquino wrote in a news alert to members.

NAIOP also cited other benefits including a 5-year carryback of net operating losses for non-REIT businesses for 2018 through 2020, and an increase in the limit on deductible business interest from 30 to 50 percent of EBITDA for 2019 and 2020.

The legislation also provides relief to the reeling hotel and restaurant industries, which have suffered drastic downturns in traffic amid the decline in travel and bans on in-house dining.

The Massachusetts Restaurant Association noted that members will be eligible for the new $349 billion SBA loan program equal to 250 percent of the borrower’s average monthly payroll from the preceding year, up to a maximum of $10 million.

“The assessment of the bill is that it is overall very strong, with many provisions that specifically reflect asks that will help the industry,” the MRA commented in a member advisory. Businesses qualify for loan forgiveness if they use the proceeds for payroll, mortgage interest or rent and utilities, and the loans would be retroactive to Feb. 15 so businesses could rehire laid-off workers.

Hotel companies that do not have more than 500 employees at a single location also will qualify for the SBA loans, offering a lifeline to an industry that has had 20 percent of its room inventory in the Boston area shuttered by the pandemic.