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First Time Home Buyer Rebate Voluntarily Deferred
LOUISIANA REALTORS • April 30, 2018
As of Monday, April 30, House Bill No. 383 was voluntarily deferred in the House Appropriations Committee at the request of Louisiana REALTORS® and the author. Due to state budgetary issues, we do not anticipate this legislation being able to complete the legislative process. Therefore, the bill will not advance any further this session.
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House Bill No. 383 would have likely passed if the measures had been adopted to balance the budget in the 2018 First Special Session. While many committee members were in favor of the bill, they were hesitant to vote in favor of a bill with a large fiscal note just after having cut other programs in the budget. "As an organization, we did not want to subject our friends to criticism for voting for a bill that we know will not advance during these uncertain budgetary times," said Norman Morris CEO.
Representative Paula Davis has agreed to file a resolution encouraging the Legislature to explore and support efforts to assist first-time home buyers in future sessions. "The 500-plus REALTORS® who converged on the Capitol last week deomonstrated the importance of assisting first-time home buyers and ensured the likelihood of successful legislation to assist these buyers in the future," said Kim Callaway - Director of Legal & Governmental Affairs. "We greatly appreciate your efforts, which will go a long way in advancing this legislation in the future," said Callaway.
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As a Louisiana REALTOR® you have the power to shape communities and ensure fair housing opportunities for all. Fair housing advocacy is not just about compliance with the law; it’s about fostering inclusive, diverse, and thriving neighborhoods.
As previewed last week, NAR is pleased to share the latest consumer guide focused on alternative listing options. This guide covers the role that MLSs play in marketing a home, office exclusive and delayed marketing exempt listing options, and the disclosure required when filing an exempt listing. For additional information and helpful resources on the new Multiple Listing Options for Sellers policy, please check out facts.realtor . 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: Alternative Listing Options Navigating Multiple Offers Homeowners Associations Marketing Your Home Seller Disclosures Thank you for continuing to engage 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 next week’s guide on Wednesday, which will cover deeds and titles.
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