Convention Center
Thursday, June 10, 2010
1:00 p.m. – 2:50 p.m.
Sacramento
Presiding:
Dennis Badagliacco, Chair
Patricia Bouie-Hinds, Vice-Chair
Issue Chairs:
Virginia Butler, Property Tax
Skip Zeleny, Government Finance
David Zigal, Commercial Investment
Phil Schafer, Transaction Tax
Liaisons:
Kevin Brown, Executive Committee Liaison
Becky Blair, NAR Commercial Alliance Committee Representative
Leslie Munger, NAR Federal Taxation Committee Representative
CAR Staff:
Christopher Carlisle, Legislative Advocate
Matt Roberts, Federal Government Affairs Manager
I. Welcome and Opening Comments – Dennis Badagliacco, Chair
II. State Taxation Issues
A. Action Items:
1. The Amount of Transfer Tax Paid – And Thus Home Price – Cannot Currently Be Kept Confidential: Should the amount of the transfer tax paid (and, thus, the cost of the home purchased) be kept confidential?*
2. State Law Does Not Require Local Governments to Post Agendas, Etc. on Their Web Site: Should state law be amended to require local governments to post agendas, etc. on their Web sites prior to any meeting?*
3. Legislation Would Impose Insurance Surcharge to Fund Disaster Preparedness: Should a surcharge be imposed on all commercial and residential property insurance policies to fund emergency response preparedness?*
B. Discussion/Reporting Items:
Government Finance
1. May Budget Revision –
2. SB 1123 (Negrete McLeod) Expansion of DRE “Poison Pill” to Special Funds –
3. AB 183 (Caballero & Ashburn) Homebuyer Tax Credit –
4. SB 401 (Wolk) Federal Tax Conformity/Debt Forgiveness
5. Capital Gains
a. SB 1416 (Walters) Senior Capital Gains Exemption
b. SB 10 of the Sixth Extraordinary Session (Dutton) Capital Gains
Commercial Investment
1. AB 1103 (Saldana) Commercial Building Energy Star Benchmarking Program
2. 1031 Property Exchanges
a. AB 2640 (Arambula) 1031 Property Exchanges
b. SB 1316 (Romero) 1031 Property Exchange Limitation
3. AB 2492 (Ammiano) Split Roll
Property Tax
1. SB 1415 (Walters) Property Tax Portability
2. SB 1430 (Walters) Senior Citizen Property Tax Exemption
Transaction Tax - AB 1919 (Davis) Survey Monument Preservation Fund
III. Federal Taxation Issues
A. Discussion/Reporting Items:
Government Finance
1. “S” Corporate Tax
2. Bush Tax Cuts & Estate Tax
3. Tax Extenders Package
Commercial Investment - Unearned Income Medicare Tax
IV. Other Business
V. Adjournment
* See Issue Briefing Paper.
