On the Legislative Front . . .
The REALTOR® Party
Your professional trade association seeks to elect members of Congress to what we call the REALTOR® Party which advocates:
l highest and best use of the land
l widest distribution of land ownership
l expanding access to adequate housing
l building functional cities
l developing productive industries and farms
l preserving a healthy environment
l in other words ? protecting and promoting real estate ownership
When we use CORPAC (RPAC) dollars to support candidates, it doesn't matter if they're members of the Republican or Democratic Parties. What matters is that they're members of the REALTOR® Party.
Your REALTOR® Political Action funds were very effective this past November in electing and/or re-electing members of the REALTOR® Party:
l Local Offices: won 6 of 8 races (75 percent)? lost Franklin Cty Commissioner and Portage Cty
Commissioner (active REALTOR®)
l Statewide Offices: won 3 of 4 races (75 percent)?lost Attorney General race;
l Ohio Senate: won 16 of 17 races (95 percent)?lost Senate District 13;
l Ohio House: won 91 of 99 races (92 percent)?lost House Districts 1, 16, 24, 43, 57, 58, 63, 64 (two of the
candidates were REALTORS®);
l U.S. Congress: won 16 of 19 races (84 percent)? lost U.S. Senate, 6th congressional district and 18th
congressional district.
REALTORS® win nationally this year
Below is a list of 2006 legislative accomplishments provided by the National Association of REALTORS®.
Small Business Health Plans
l 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.
l S. 1955 is the first small business health plan bill ever to be debated by the Senate.
Banks in Real Estate
l 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.
l 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
l 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
l NAR also successfully lobbied Congress for fiscal year 2007 funding:
l $198 million for FEMA's map modernization program
l $50 million for the repetitive loss pilot program
l $31 million for the flood mitigation assistance program
l $100 million for the pre-disaster mitigation program.
l NAR continues to work closely with FEMA to assure the accuracy and usability of any new maps.
Tax Policy
l NAR lead the fight in opposition to tax commission recommendation to replace the Mortgage Interest Tax
Deduction with limited tax credits
l NAR continues to press for renewal and extension of the 15-year cost recovery period for leasehold improvements.
FHA Reforms
l NAR suggested FHA modernization legislation passed by House H.R.5121, Expanding American Homeownership
Act of 2006, would
l Raise FHA loan limits
l Eliminate restrictive down payment requirements
l Provide risk based mortgage insurance premium flexibility
l Offered optional extended 40 year term FHA loans
Private Property Rights
l NAR successfully lobbied for passage of The Private Property Rights Implementation Act of 2006, H.R.4772
sponsored by Rep. Steve Chabot (R-OH).
l 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
l NAR is taking a leading role in Washington, DC on the natural disaster policy to position the issue for legislative
action in 2007.
l Educating Congress on the importance affordable disaster insurance, especially in disasterprone areas, for
home and business owners.
l NAR hosted a natural disaster policy symposium focused on identifying federal policy solutions
l NAR partnered with the Department of Homeland Security to promote September 2006 as "National
Preparedness Month"
l 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.
REALTORS® helped raise transfer tax
Earlier this year, the Columbus Board of REALTORS® voted to endorse an increase in the transfer fee for real estate conveyances for Franklin County -- a position virtually unheard of within the REALTOR® ranks.
With more funds needed for the Ohio budget and the $1 transfer fee well below other Ohio counties, it was just a matter of time. So, CBR took a proactive approach in supporting the increase from $1 to $2 per $1,000.
However, our support was contingent upon receiving a pledge from the Franklin County Commissioners that the additional taxes raised (approx. $6.5 Million) was "dedicated" to help address affordable housing needs.
The increase passed and was implemented 1/12/06. The extra $1 per $1,000 is being used as follows:
l $3.25 Million for affordable housing development
l $3.25 Million for Homelessness prevention, housing & shelter
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