2018 Legislative Session (Week 5)
LOUISIANA REALTORS • April 13, 2018
Updates from Bills discussed in Week 4
SENATE BILL NO. 462, SENATOR DANNY MARTINY – INCLUSIONARY ZONING
Currently, Louisiana allows municipalities and parishes to pass inclusionary zoning ordinances to promote the development of affordable housing. Inclusionary zoning requires housing developers to sell or rent a proportion of their units below market rate, regardless of the economics of a project or whether the developer receives just compensation. Senate Bill 462 would instead allow municipalities and parishes to offer VOLUNTARY economic incentive policies to promote the development of affordable housing.
This bill passed the Senate and now heads to the House Committee on Municipal, Parochial and Cultural Affairs. Louisiana REALTORS® will be putting out a call to action Monday, April 16 for constituents of members of the House Committee on Municipal, Parochial and Cultural Affairs to ask their representatives to vote yes on this important bill.
REGULATION OF BOARDS AND COMMISSIONS
Several bills are going through the legislature to modify how boards and commissions operate. Some of these bills would have an impact on real estate licensees and LR is continuing to work with the authors of these bills. To date, we have successfully convinced the authors of these bills to make some changes that benefit not only the real estate industry but others as well.
SENATE BILL NO. 466, SENATOR ED PRICE, CHANGES TO SECURITY DEPOSITS FOR RESIDENTIAL LEASES
This bill proposed a law change on security deposits for residential leases and potentially placed many additional burdens on residential lessors.
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Louisiana REALTORS® was opposed to certain components of the bill as it was initially filed. However, after amendments were put on the bill it now only provides that a tenant would have the right to recover the greater of either the amount of the portion of any security deposit wrongfully withheld or any portion of the security deposit wrongfully withheld plus $300.
These amendments significantly altered the bill and removed not only Louisiana REALTORS® opposition but also the opposition of the Apartment Association of Louisiana.
Take advantage of safety training and other resources provided by your local REALTOR® Association in Louisiana.
Construction Update: Act Nos. 239 and 422 Eric Landry, Breazeale, Sachse & Wilson, L.L.P. Louisiana REALTORS® Counsel
NAR is pleased to share the latest consumer guide focused on how the VA Home Loan offers a great path to homeownership for current and former military service members. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: What Is the VA Home Loan Guaranty? 10 Tips for Packing Smartly for a Move State and Local Tax (SALT) Deductions Buying a Historic Property Making Your Home More Energy Efficient Working with a Real Estate Attorney Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for the next consumer guide, which outlines requirements for private mortgage insurance and how it protects lenders and consumers.
