RECAP: 2018 Legislative Session (Week 1)
LOUISIANA REALTORS • March 16, 2018
The first week of the 2018 Legislative Regular Session is over and very few substantive bills have been moved to the House or Senate floor. It is expected that many bills will be heard in committee next week and things will start moving at a faster pace. Louisiana REALTORS® will provide regular updates on items throughout session.
HOUSE BILL NO. 383 - LOUISIANA FIRST HOME
REALTOR® MEMBERS ARE ENCOURAGED TO RESPOND TO THE ACTIVE
CALL FOR ACTION AND CONTACT YOUR LEGISLATORS TO SUPPORT THIS BILL.
House Bill No. 383 by Representative Paula Davis (creating a rebate for first time home buyers) will be heard by the House Ways and Means Committee Tuesday, March 20th. Louisiana REALTORS® legislative team was at the Capitol this week promoting the bill and received mostly good feedback. However, there are legislators who are concerned about passing any type of rebate this year as the state continues to face a fiscal deficit.
CALL FOR ACTION - HB #383
LEGISLATIVE BILL REVIEW
Louisiana REALTORS® will conduct the annual bill review session on Wednesday, March 21st at LR offices. At this meeting, REALTORS® and staff go over close to one hundred bills that have been identified as potentially affecting the real estate industry. LR will provide a grid to track these bills throughout the session. If you have specific comments or questions regarding any legislation proposed, contact Kim Callaway - Director of Legal & Governmental Affairs.
REGISTER TO ATTEND REALTOR DAY® ON APRIL 24
Preparations are underway in Baton Rouge for the annual Spring Into Action Conference.
The event will provide great information on what's happening in the industry and your local boards are working with LR to have a strong member presence for REALTOR® Day. Register by Wednesday, March 28 and guarantee the REALTOR® Day shirt before the event!
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple joined Governor Jeff Landry and Senate Insurance Committee Chairman Kirk Talbot today to announce that Louisiana is investing an additional $20 million in Fortified homes, bringing the total amount invested in state Fortified projects this year to $100 million. Governor Landry announced that $20 million from the U.S. Department of Housing and Urban Development will be transferred to the Louisiana Office of Community Development Restore Resilient Opportunities for Overhead Fortification (Restore ROOF) program to strengthen residential structures and reduce long-term disaster risk. Earlier this year, the Legislature passed a bill that allows $50 million in additional Katrina and Rita bond money from Louisiana Citizens Property Insurance Corporation to be added to the Department of Insurance’s Louisiana Fortify Homes Program (LFHP). Also beginning this year, LFHP is projected to receive approximately $30 million annually from taxes and fees the Louisiana Department of Insurance collects from the insurance industry. “Building stronger homes is a vital part of making homeowners insurance affordable in Louisiana,” said Commissioner Temple. “I appreciate Governor Landry’s leadership and support as we work with legislators like Chairman Talbot to make Louisiana a national leader in the adoption of Fortified roofs.” The Louisiana Department of Insurance (LDI) has finalized its promulgation of Regulation 136—Fortify Homes Premium Discounts. The purpose of Regulation 136 is to implement the statutory provisions set forth in La. R.S. 22:1483, et seq. , which require that all Louisiana property and casualty insurers provide premium discounts or insurance rate reductions for homes constructed or upgraded in accordance with the fortified standards created by the Insurance Institute for Business and Home Safety. View Regulation 136 here .
Program Partners
Learn about common risks as a real estate agent and tips to stay safe during home showings.
