Industry and Association Milestones

This is a brief — and by no means comprehensive — listing of some of the events that helped shape the association and the equipment leasing and finance industry over the past 60 years.

1961

AEL Logo

Association of Equipment Lessors founded to allow industry members to network and share best practices.

 

1962

Bill Signing

Kennedy Administration proposes Investment Tax Credit to stimulate investment. In its first major advocacy effort, association advocates to make lessors eligible for the credit.

 

1971

Bank Columns

Board of Directors votes to accept banks as members, following a decision by the Comptroller of the Currency to allow banks to begin leasing.

 

1975

1974 chart - Types of Equipment Leased

Association publishes first Survey of Equipment Finance Activity.

 

1978

Map of Arlington Location

Association's first headquarters office and staff established in Arlington, Va. Previously, the association was managed by an association management company in Milwaukee, Wisc.

 

1979

LeasePAC Logo

Association's political action committee, LeasePAC, founded.

 

1982

Ronald Reagan signing ceremony

Safe harbor leasing repealed as part of the Tax Equity and Fiscal Responsibility Act.

 

1984

Retired congressman J.J.

Pickle depreciation limits for leasing to tax-exempt entities enacted.

First Principles of Leasing Workshop.

 

1985

Securitization

Securitization of equipment leases begins.

 

1986

Tax Reform

Investment Tax Credit repealed in Tax Reform Act of 1986.

 

1987

Equipment Management Conference Attendees

First annual Equipment Management Conference.

 

1988

Funding Exhibition

Association launches Funding Exhibition to bring funders and lessors together.

 

1992

ELA Eyebrow Logo

Association changes name to Equipment Leasing Association of America.

 

1993

US flag Map

State Government Relations commences with direct lobbying in state capitals.

 

1994

State of California

Extended California Manufacturer's Investment Credit (MIC) to leasing.

Legislation enacted facilitating securitization of leases to small businesses.

 

1995

ELA Online

Association website launches.

 

1998

Webinar

Association holds first web seminar, titled "ELA Secures Victory in New York Security Deposit Law."

 

2001

PIR/MLFI Charts

Association launches the Performance Indicator Report (PIR). The report becomes the Monthly Leasing Index (MLI) in 2005 and the Monthly Leasing and Finance Index (MLFI-25) in 2006.

ELFA list serves launched, providing real time networking for industry.

 

2002

US Map of State Flags

Lease definition and sourcing rule negotiated for the Streamlined Sales Tax Agreement between state governments.

 

2004

ELFA State Tax Manual

ELFA State Tax Manual goes online, providing the industry with continuous updates.

 

2005

Bankruptcy Reform

Major bankruptcy reform legislation enacted including favorable change in "ordinary course of business" rule for equipment leasing.

Graves Amendment enacted, which insulates lessors of motor vehicles from state laws that impose vicarious liability on the owner for negligent acts of the operator.

 

2006

ELFA Logo

Association changes name to Equipment Leasing and Finance Association.

 

2007

1825 K St NW Location of ELFA Headquarters

ELFA relocates headquarters from Arlington, Va., to Washington, D.C.

 

2009

US Capitol

Congress in the American Recovery and Reinvestment Act provides favorable rules for lease financing of renewable energy projects.

The Term Asset-Backed Securities Loan Facility (TALF) financial stability program expanded to include equipment leases and loans as an eligible asset class.

 

2011

50th anniversary Logo sculpted in ice

ELFA holds 50th Annual Convention in San Antonio, Texas.

 

2012

50th anniversary Logo sculpted in ice

ELFA launches Equipment Finance Advantage educational website for end users

 

2014

50th anniversary Logo sculpted in ice

ELFA Emerging Talent Advisory Council (ETAC) established

 

2014

Lease Foundation 25th Annivesary Logo

Equipment Leasing & Finance Foundation celebrates 25th anniversary.

 

2016

ELFA Events App

Launched ELFA Events mobile app.

Financial Accounting Standards Board releases new lease accounting standard (ASC 842).

 

2017

ELFA Women's Council

ELFA Women's Council established.

 

2018

SEFA Dashboard

Launched Interactive SEFA Dashboard and MySEFA personalized data tool allowing members to drill down into industry statistics.

 

2020

2020 Diversity and Inclusion committee

ELFA Equality Steering Committee launched.

ELFA hosts first-ever virtual conference, ELFA 2020 Business LIVE! due to COVID-19 pandemic.

ELFA Engage mobile app launched.

 

2021

ELFA 60th Anniversary

ELFA celebrates 60th anniversary.