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Summary of Legislative Eventsof Note
LOUISIANA REALTORS • May 11, 2018
SENATE BILL NO. 462, SENATOR DANNY MARTINY – INCLUSIONARY ZONING
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This bill has one final step to make prior to going to Governor Edward’s desk for action. Louisiana REALTORS® is unsure if Governor Edwards will sign or veto the bill given that many legislators in his party oppose the bill, but we will keep members updated.
As for the subject matter of the bill, 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.
HOUSE BILL NO. 372, REPRESENTATIVE PATRICK CONNICK -
REGULATION OF BOARDS AND COMMISSIONS
House Bill No. 372 would require administrative rules sought to be promulgated by boards and commissions, including but not limited to the Louisiana Real Estate Commission (LREC), to undergo additional review to ensure that occupational licensing boards and their board members will avoid liability under federal antitrust laws.
If passed this legislation would ensure that if any of our members accept positions as LREC commissioners that they will not be personally liable for actions taken by LREC.
At the request of Representative Connick, Louisiana REALTORS® was at the table at every meeting where associations representatives negotiated amendments for the bill. We worked tirelessly with representatives of a coalition of 40+ national and state associations to ensure that these amendments were adopted in the Senate Committee on Commerce, Consumer Protection and International Affairs. Ultimately, amendments were put on the bill that put it in a posture that Louisiana REALTORS® and a majority of associations accepted. The bill now goes before the entire Senate and will be sent to the House of Representatives for concurrence in the amendments.
HOUSE BILL NO. 748, REPRESENTATIVE EMERSON - REGULATION OF LAWS GOVERNING BOARDS AND COMMISSION
In the form this bill left the House of Representatives, it could have been read to require state government approval of any certifications members of private trade associations receive from private entities. This could have included certifications issued by NAR and other real estate groups.
Louisiana REALTORS® along with approximately 50 other associations officially submitted opposition to this bill when it was presented in the Senate Committee on Commerce, Consumer Protection and International Affairs.
The Senate Committee on Commerce, Consumer Protection and International Affairs understood the position of the opposition and significantly modified to bill to remove much of the opposition, including those who opposed the bill because of the certification language. The bill now goes before the entire Senate and will be sent to the House of Representatives for concurrence in the amendments.
As previewed last week, NAR is pleased to share the latest consumer guide focused on preparing for homeownership. This guide covers what prospective buyers should consider as they kick off the home purchase process, including the importance of credit scores, mortgage pre-approval, down payments, budgeting, and educational resources. 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: Preparing for Homeownership Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Thank you for your continued engagement with the “Consumer Guide” series and for sharing the resources with potential clients to ensure they have the information they need to be successful 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 property taxes.
As previewed last week, NAR is pleased to share the latest consumer guide focused on escrow. This guide covers what homebuyers should know about earnest money deposits, including the general terms and use cases in real estate transactions. 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: Escrow and Earnest Money Pricing Your Home Preparing to Sell Your Home Fire Damage and Policy Coverage Flood Insurance 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 next week’s guide on Wednesday, which will cover preparing prospective buyers for homeownership.
The Louisiana REALTORS® Board of Directors will conduct several elections this Spring. Interested candidates that meet the qualification who are looking to serve at either the state association level or the national association level are encouraged to view the criteria and submit an application. An application that is not submitted on the appropriate form or not submitted pursuant to the instructions shall not be considered as submitted timely.
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