Keep checking here for updates on state and national legislation as well as local issues, including area planning committee meeting schedules and many other activities.

Housing Bill Stalls in Senate

Floor consideration of NAR-backed housing stimulus legislation that would permanently raise conforming and FHA loan limits to $625,500, create a homeownership tax credit, and expand FHA to help borrowers replace troubled subprime loans was delayed while senators resolve issues over energy tax credits and chamber procedures. The legislation has bipartisan support but isn’t expected to be taken up until after the July 4 holiday, reducing the chance of a final bill getting to President Bush before the end of the month. The bill also includes reforms to FHA and the oversight of Fannie Mae and Freddie Mac. The House passed its version of the bill earlier this year, and lawmakers are discussing ways to resolve differences between the two bills even as the procedural issues are addressed. For more info contact Megan Booth, 202/383-1222.

Quarter of REALTORS® Without Health Insurance

Reminder: When you're talking with your members of Congress and other lawmakers about health insurance, refer to NAR's recent survey of REALTORS® on health coverage needs. Three quarters of REALTORS® say unaffordable premiums is the main reason coverage is a problem; 15 percent say its insurers' unwillingness to cover people with a pre-existing condition. About two-thirds of REALTORS® cover their premium entirely on their own; just under 30 percent share the cost with their brokerage. Other facts are at REALTOR.org.

2008 CAR Legislative Recap Online

Many of you received a copy of the 2008 CAR Legislative Recap at the CAR Summer Business meetings that were held a couple of weeks ago in Keystone. As noted in the brochure the CAR's 2008 Legislative Policy Committee (LPC), addressed a variety of issues and legislative proposals which affect economic vitality, private property interests, jobs and housing opportunities, environmental matters, and other items affecting the quality of life enjoyed by the communities in which your members work and live. The 2008 CAR Legislative Recap is now online and we encourage you to share it with your members.

Read More