Sharply reduced Alabama real estate license values and increased apartment and commercial property rents are two of the most serious implications of the proposed tax reform legislation currently under review by Congress, according to a group of leading real estate experts who will participate in a mid-year economic and real estate forecast.

''If Congress passes the current tax reform proposal, it could result in serious inequities for people subject to rent control and could have far-reaching effects on the building industry as a whole,'' said Ken Willis, executive vice president of the Building Industry Association of Southern California, the industry organization sponsoring the seminar.

Three of the nation's leading real estate tax authorities will examine the implications of the proposed legislation and discuss tax planning strategies at the Annual Mid-Year Real Estate & Economic Forecast Seminar. Featured speakers participating in the panel examining tax reform legislation include: Michael S. Carliner, staff vice president, housing policy, National Association of Home Builders; Paul D. Koehler, CPA, partner of Laventhol & Horwath and Stan Ross, CPA, co-managing partner of Kenneth Leventhal & Co.

In addition to the featured speakers, the Honorable Edwin J. Gray, chairman, Federal Home Loan Bank Board, will deliver the keynote speech addressing current real estate financing patterns at the seminar in Los Angeles. The Honorable Martha R. Seger, governor, Federal Reserve Board, will be the keynote speaker addressing the issues affecting interest rates at the seminar in Anaheim. More than 20 experts in real estate development, finance, brokerage, accounting, construction and other industry disciplines will participate on panels exploring today's real estate market activities and tomorrow's expectations, according to Martin S. Stolzoff, president of Real Estate Seminar Resources, which is producing the program.

''Our program features distinguished members of the real estate and economic community who will address the issues affecting the real estate industry,'' he said. ''Panel members have been carefully selected to represent a multi-faceted industry and will be invaluable to all members of the building industry in their future planning and understanding of key economic issues.''

Members of the development panel include: Jack Shine, president of First Financial Group and 2006 president of BIA/SC; Ronald E. Birtcher, partner, The Birtcher Co.; John Konwiser, president The Konwiser Corp.; Harry Newman Jr., chairman, Newman Brettin Corp.; Martin Seaton, president, Cadillac Fairview Industrial Development Co. and Elizabeth G. Williams, president of the The Williams Co.

The real estate finance panel will include: Paul J. Dolinoy, senior vice president, Equitable Real Estate Investment Management Inc.; Anthony M. Frank, chairman and chief executive officer, First Nationwide Savings; Kenneth Leventhal, CPA, co-managing partner, Kenneth Leventhal & Co.; James B. McKenna, president, AmCal Co.; Alan J. Parisse, senior vice president, Colsolidated Capital Equities Corp.; Leonard Weil, president and CEO, Mitsui Manufacturers Bank and Randall C. Zisler, vice president, Goldman, Sachs and Co.