Agenda – Taxation CommitteeGrand Ballroom Salon C/D
Marriott Hotel
Wednesday, October 10, 2007
2:00 p.m. – 4:00 p.m.

Presiding:
Robert Kevane, Chair
Ann Throckmorton, Vice Chair
Skip Zeleny, Vice Chair
Susan Tilling, Executive Committee Liaison
Raymond Karpe, NAR Committee RepresentativeCAR Staff:
Christopher Carlisle, Legislative Advocate
Jeff Keller, Public Policy AnalystI. Opening CommentsII. State Taxation IssuesA. Action Items:

1. Private Transfer Taxes: Next Steps
2. Safeguarding Investors Utilizing 1031 Exchange Accommodators
3. The Unanticipated Tax Consequences in a Short Sale or Foreclosure
4. February 8, 2008, Presidential Primary Election Ballot PropositionsB. Discussion/Reporting Items:1. Property Tax Basis Portability
2. Private Transfer Taxes
3. AB 239 (DeSaulnier) Recording Fee Increase Authorization
4. Homeowner’s Property Tax Exemption Increases
5. AB 393 (Coto) Mortgage Insurance Tax DeductionIII. Federal Taxation IssuesA. Action Items:1.  Carried Interest

B. Discussion/Reporting Items:

1.   Mortgage Cancellation
2.   Qualified Veteran Mortgage Bonds
3.   FIRPTA
4.   1031 Exchanges
5.   Mortgage Insurance Premium Deduction
6.   Employee Housing Downpayment Assistance
7.   Tax Reform and AMT
8.   Internet Taxation
9.   Tax Gap

IV. Other Business

V. Adjourment