HOW DOES YOUR CONTRIBUTION TO THE REALTORS® POLITICAL ACTION COMMITTEE
(RPAC) BENEFIT YOU ?
The
Government Affairs of the National Association of REALTORS® develops, advances,
and implements the legislative and regulatory objectives of the
National Association with the Federal Government. The National Association works
with the
public policy objectives using
the following resources: lobbyists, professional policy staff, field
representatives, communications, grassroots advocacy and
contact teams, and the nation’s
largest provider of direct contributions to federal candidates – RPAC.
Over the last
several years, the National Association has been ranked among the most powerful
and influential lobbying organizations in the country by Fortune Magazine, thanks in no small part to the clout and respect
of RPAC on Capital Hill.
Some recent
examples include:
Small Business Health Plans - Legislation that would permit
associations to offer health insurance plans to their members progressed
further than in any previous Congress, largely due to NAR's
advocacy efforts. NAR was instrumental in the drafting of S. 1955,
the Senate version of a small business health plan (SBHP) bill and NAR is also
credited for pushing the bill to the Senate floor in May 2006. As a result, S.
1955 is the first small business health plan bill to reach the full Senate.
(The House passed SBHP legislation in 2005 and in several earlier Congresses.)
Regrettably, a procedural motion that would have permitted full Senate debate
failed. NAR will continue its work with Senate leadership to create this
opportunity. Read
more>
Banks in Real Estate - For the sixth consecutive year, NAR has
successfully convinced Congress to block the Federal Reserve-Treasury
Department rule from going into effect. That rule would permit banks to engage
in real estate brokerage and management. The House has passed its Fiscal Year
2007 Transportation-Treasury-HUD (TT-HUD) appropriations bill which includes
another one-year ban against the Federal Reserve/Treasury rule. For the second consecutive
year, the Senate Appropriations Committee has reported out a permanent fix as
part of its TT-HUD appropriations bill. In the post-election lame duck session,
NAR will urge the appropriations conferees to retain the permanent ban language
in the final bill. Read
more>
Natural Disaster Policy - NAR is taking a leading advocacy role in
natural disaster policy to position the issue for action in 2007. NAR is
educating Congress on the need to protect home owners and the economy by
ensuring the affordability of disaster insurance, especially in disaster-prone
areas. NAR successfully hosted a natural disaster policy roundtable in March
featuring two Members of Congress. NAR convened a symposium in September,
attended by about eighty individuals representing a variety of interest groups
and Congressional staff. The symposium focused on identifying federal policy
solutions for insurance backstops. NAR also partnered with the Department of
Homeland Security to promote National Preparedness Month in September 2006. NAR
is reaching out to industry groups and stakeholders to form a coalition to
promote and advance legislation when the new 110th Congress convenes next year.
Read
more>
FHA Reforms - Through NAR’s efforts, the House
has approved legislation (H.R. 5121) modernizing FHA’s single-family mortgage
insurance program and a companion bill (S. 3535) awaits consideration in the
Senate. This legislation is the most substantive FHA reform Congress has
undertaken in 15 years. The bills would raise FHA loan limits, eliminate
restrictive down payment requirements, permit risk-based mortgage insurance
premium flexibility and extend the possible terms of FHA loans from 30 to 40
years. NAR is urging the Senate to take action and approve its FHA reform
legislation during the post-election lame duck session.
Read
more>
Tax Policy - President Bush signed the tax bill (HR 6111) that passed in
December on December 20, 2006. That legislation (P.L. 109-432) renewed and
extended through 2007 the brownfields deduction and
the 15-year life for leasehold improvements. A new, limited deduction for
mortgage insurance (PMI) premiums was also created.
Read
a summary of the PMI deduction>(23K PDF file)
National Flood Insurance Program – In three separate initiatives that
President Bush signed into law, NAR successfully lobbied Congress for increases
in the borrowing authority under the National Flood Insurance Program (NFIP).
This authority, which started at $1.5 billion and ultimately rose to $20
billion, enables the Federal Emergency Management Agency (FEMA) to pay existing
claims.
Separately, NAR secured the following funding amounts in the FY 2007 Homeland
Security appropriations: $198 million for FEMA’s map
modernization program, $50 million for the repetitive loss pilot program, $31 million for the flood mitigation assistance program and
$100 million for the pre-disaster mitigation program. President Bush has signed
this legislation. Notably, the $50 million for a repetitive loss pilot program
is new funding; this program had previously been zeroed out. All other funding
levels are similar to previous years. NAR continues to work closely with FEMA
to assure the accuracy and usability of any new maps.
Private Property Rights - NAR’s advocacy led
the House to approve legislation designed to secure due process for property
owners when their rights have been violated and their property has been
wrongfully taken. The bill, H.R.4772 The Private Property Rights Implementation
Act of 2006 sponsored by Rep. Steve Chabot (R-OH), clears procedural hurdles
that limit property owners’ access to justice and gives them their “day in
court.” The bill applies only to claims filed in federal court by property
owners seeking relief from violations of federal statutory and Constitutional
law. (State claims will continue to be pursued at the state level.) Read
more>
Competition in the Real Estate Industry - NAR successfully defended the
real estate industry against charges of anti-competitiveness. NAR
President-Elect Pat Vredevoogd Combs testified at a
House Financial Services Subcommittee on Housing and Community Opportunity
hearing entitled, “The Changing Real Estate Market.” Her testimony followed
testimony from the Department of Justice (DOJ) and the Federal Trade Commission
(FTC) criticizing MLS rules and state minimum service laws. Pat Vredevoogd Combs’s testimony reiterated NAR’s
position that competition is thriving, prices for real estate services vary and
consumers can find more property and transaction information than ever before
through the Internet, thanks to REALTORS®.
Read more>
Eminent Domain – As Congress responded to the holding in the Kelo Supreme Court ruling on eminent domain,
NAR stressed its core values related to private property ownership. NAR was
successful in ensuring that any federal legislation recognize
that states, not the federal government, should establish rules and laws
governing the use of eminent domain.
Read
more>
Terrorism Insurance –- NAR commenced its advocacy for extending the
federal terrorism insurance backstop that expires in 2007. In comments to
Treasury and in statements to Congress, NAR noted that a healthy commercial
real estate market depends on readily available and affordable terrorism
insurance. NAR is working with other real estate interest groups to develop a
legislative proposal to ensure the continued availability of terrorism coverage
and, over time, reduce reliance on the federal government.
Read
more>
RPAC IS YOUR BEST INVESTMENT IN REAL
ESTATE