The National Flood Insurance Program (NFIP) is set to expire on September 30th without Congressional action. NAR estimates that past lapses of the NFIP have delayed or cancelled 1,400 transactions a day. The program presently is in debt to the United States treasury by approximately $25 Billion. This certainly creates a concern for the sustainability of the program. During the past month, there has been a lot of activity on Capitol Hill. Here's what information you need to know
The Legislative Session ended last month with no tax increases and without passing a budget. Read a summary of activities or view REALTOR® and homeowner wins. As state issues settle, REALTORS® need to turn their attention to the national stage as the National Flood Insurance Program (NFIP) is set to expire on September 30. It is imperative that we stand ready to respond to Calls for Action and what is happening in Congress
Louisiana REALTORS® sponsored Senate Bill 108 by Senator Bodi White passed the Senate and House of Representatives and has been signed by the Governor. This legislation is an amendment to an existing statute and adds criminal penalties for a violation. The amendment becomes effective August 1, 2017.
The 2017 Legislative Session was great for REALTORS and for homeowners. LR was successful at preventing new sales tax on services as well as passing legislation that penalizes those that practice without a license. Norman Morris, CEO provides a short recap of those wins in this last legislative session report.
The. U.S. Small Business Administration Office of Advocacy is hosting a series of roundtables seeking input from financial and real estate services. The purpose of each roundtable is to hear directly from local small businesses about what regulations concern them. This will be an opportunity for small business leaders to educate Advocacy and federal agencies through first-hand accounts of how federal regulations impact their small business.
The legislative session is set to end by June 8th. The Senate is currently reviewing and debating the 2018 state budget passed by the House. Most of the proposed taxes on real estate services and business either have failed passage or were not brought forth for a committee vote. Read on for the updates on all the legislative activity.
Due to the proactive efforts of the Louisiana REALTORS' Legislative Team, a successful REALTOR Day event, and over 2,000 REALTORS that responded to a Call for Action HB 655 was deferred. This is a great win in protecting homeownership in Louisiana!
Louisiana REALTORS® held a successful REALTOR® Day in conjunction with the SPRING INTO ACTION Conference last week. Over 500 attendees representing all areas of the state attended the one-day event in Baton Rouge and the presence at the Capitol was noted by the legislators. We would like to extend a THANK YOU to all the local boards and volunteers that took part in the day's activities.