Louisiana REALTORS Legislative Issues Superfund
The Louisiana REALTORS Legislative Issues Superfund consists of dues dollars set aside to assist REALTORS in the passage or defeat of critical legislation with a major projected impact on the industry (i.e. tax on commissions, transfer fees). These funds may be used in local or statewide media and/or grassroots campaigns to promote or oppose key issues, may be used to hire additional lobbyists if needed, or used in other ways to aid when there are multiple opponents to our issue.
As part of its governmental affairs and legislative efforts, Louisiana REALTORS monitors issue development and trends in other states, and has observed that several REALTOR state organizations and numerous local associations have encountered proposals to place taxes on business licenses, taxes on transfer of real estate and new property tax measures, passed with the intent of improving state and local infrastructure. LR has discussed these proposals at length with other states and the trend is expected to continue throughout the country as budget deficits mount.
Notable examples include Florida, where the state REALTOR organization spent $1 million in 2007 and will spend another $1.4 million in 2008 to fight transfer tax proposals. North Carolina recently issued a $50 dues assessment and a $25 overall dues increase for their issues mobilization fund to help support their “It’s a Bad Idea” campaign opposing transfer taxes.
The LR Issues Superfund will originate in the 2009 program year with an initial $100,000 allocated from dues dollars, with the intent of building up the fund with a percentage of dues dollars on an ongoing annual basis.
When the attack on home ownership arrives, it will be an attack on your current and future customers, and more than the individual REALTOR or REALTOR firm can handle alone. Your state REALTOR association needs to be in a position to fight and win that battle -- ensuring that your customers are able to not only stay in their home, but can afford to buy again in the future to invest in Real Estate. Funding was approved by the LR Board of Directors at its September 2008 meeting, and the creation of the LR Issues Superfund is an important component in protecting homeowner and real estate interests.