How is this money helping us in California
2006 Legislative Accomplishments
Local Accomplishments
* Fight to continue the use of Open House signs
* Fight to limit the cost of Business Licenses
* Attack Point of Sale Inspections
* Attack new Business Taxes on REALTORS®
* Support Agency Disclosure to restrict liablity to Agents and Independent Contractors
Small Business Health Plans
• NAR was instrumental in the drafting of S. 1955, the Senate small business health plan (SBHP) bill and efforts to bring the bill to the Senate floor for consideration in May 2006.
• S. 1955 is the first small business health plan bill ever to be debated by the Senate.
Banks in Real Estate
• NAR blocks, for the 6th consecutive year, Banks from entering real estate brokerage by successfully lobbying Congress to delay implementation of Federal Reserve-Treasury Department.
• For the second consecutive year the Senate Appropriations Committee has reported out a permanent fix as part of its Transportation-Treasury-HUD appropriations bill.
National Flood Insurance Program
• NAR successfully lobbied Congress for increase, from $1.5 billion to $20 billion, in the borrowing authority of the National Flood Insurance Program (NFIP) to enable FEMA to pay existing claims.
• NAR also successfully lobbied Congress for fiscal year 2007 funding:
o $198 million for FEMA´s map modernization program
o $50 million for the repetitive loss pilot program
o $31 million for the flood mitigation assistance program
o $100 million for the pre-disaster mitigation program.
• NAR continues to work closely with FEMA to assure the accuracy and usability of any new maps.
Tax Policy
• NAR lead the fight in opposition to tax commission recommendation to replace the Mortgage Interest Tax Deduction with limited tax credits
• NAR continues to press for renewal and extension of the 15-year cost recovery period for leasehold improvements.
FHA Reforms
• NAR suggested FHA modernization legislation passed by House H.R.5121, Expanding American Homeownership Act of 2006, would:
o Raise FHA loan limits
o Eliminate restrictive down payment requirements
o Provide risk based mortgage insurance premium flexibility
o Offered optional extended 40 year term FHA loans
Private Property Rights
• NAR successfully lobbied for passage of The Private Property Rights Implementation Act of 2006, H.R.4772 sponsored by Rep. Steve Chabot (R-OH).
• H.R. 4772 ensures due process for property owners when their rights have been violated and their property has been taken. The bill applies only to claims filed in Federal court by property owners seeking relief from violations of Federal statutory and Constitutional law.
Natural Disaster Policy
• NAR is taking a leading role in Washington, DC on the natural disaster policy to position the issue for legislative action in 2007.
o Educating Congress on the importance of affordable disaster insurance, especially in disaster-prone areas, for home and business owners.
o NAR hosted a natural disaster policy symposium focused on identifying Federal policy solutions
o NAR partnered with the Department of Homeland Security to promote September 2006 as "National Preparedness Month"
o NAR is reaching out to industry groups and stakeholders to form a coalition to promote and advance legislation when the new 110th Congress convenes next year.
