Wednesday, January 21, 2009
3:30 p.m. – 5:15 p.m.

Presiding:
Cynthia Carley, Chair
Curt Cournale, Vice-Chair
Mark Peterson, Vice-Chair
Bill Jansen, Executive Committee Liaison
Jimmy La Peter, NAR Committee Representative

CAR Staff:
Christopher Carlisle, Legislative Advocate
Jeff Keller, Public Policy Analyst

I. Opening Comments

II. State Taxation Issues

A. Action Items:

1. Transfer of Property Tax Base Year Value: Notice to Senior Homeowners: Should C.A.R. support legislation informing homeowners via their property tax bill as to the tax benefit available under Propositions 60 and 90?

2. Ballot Proposition: Property Tax; New Construction Exclusion; Seismic Retrofitting. Legislative Constitutional Amendment: What position should C.A.R. take on this ballot proposition on the June 8, 2010, ballot?

B. Discussion/Reporting Items:

1. Vote Thresholds
a. SCA 5 (C. Calderon) Vote Threshold Increase for General Obligation Bonds.
b. SCA 6 (Simitian) Vote Threshold Reduction for Parcel Taxes.

III. Federal Taxation Issues

A. Action Items:

1. Withdrawing From 401(k) Plan Without Penalty: As the housing market has continued to face a tough decline, there has been a rise in homeowners that are finding themselves struggling to pay their mortgages. Should homeowners be allowed to withdrawal from their 401(k), without penalty, to help pay their troubled mortgage?

B. Discussion/Reporting Items:

1. Homebuyer Tax Credit
2. Stimulus Package
3. Tax Extenders
4. Tax Reform and AMT
5. Real Estate Related Taxes6. Private Transfer Taxes

IV. Other Business

V. Adjournment