Agenda
Marriott Wardman Park Hotel
Virginia Suite A & B, Lobby Level
Tuesday, May 12, 2009
3:00 PM – 4:00 PM

Presiding:
Don Faught, C.A.R. Federal Issues Committee Chair

Staff:
Matt Roberts, Federal Governmental Affairs Manager

I. Welcome: James Liptak, C.A.R. President

II. Board of Directors: Key Decisions (Please See NAR Link)
Below is a brief summary of the “Key Decisions” to be made at the May Business Meetings.  Please click on the link above for a detailed summary of each issue.

A.NAR’s Association Professional Practices PAG is asking the BOD to amend the NAR bylaws to impose duties on state and local associations and their MLSs to ensure they are honest and truthful in their communications.  Specifically, the amendment would prohibit associations and MLSs from engaging in false, deceptive or misleading advertising and marketing practices, and from knowingly or recklessly making false or misleading statements about other associations and their programs, products or services.

B.Amendment to Code of Ethics to add words “land brokerage” to the real estate disciplines referenced in Article 11.

C.NAR is also considering some 2010 Committee Structure Proposals.  These changes will primarily impact the number of members that will be allowed on certain committees.  Please see the link above for additional information.

III. New Issues:
A. Energy Conservation and Point of Sale Mandates (Oppose POS Mandates, Support Energy Conservation Incentives)
 (Land Use and Environment, Taxation Committee)
These two committees will be reviewing the Waxman Energy bill and its impact on real estate.  Of greatest concern is a point-of-sale mandate for energy rating and labeling of residential and commercial properties.  The Taxation Committee will be reviewing the tax implications of energy conservation.

B.C.A.R. Health Care Working Group Recommendations for NAR (No Position)
  (Business Issues)
C.A.R.’s Health Care Working Group came up with eight principles that the Federal Issues Committee recommended be taken to NAR for consideration in their discussion of health care reform and health care for small business owners.

C. Ban on Mandatory Arbitration (Oppose Unless Amended)
  (Business Issues)
Legislation has been introduced in Congress that is intended to prohibit mandatory arbitration in contracts.  The legislation as currently worded could impact the voluntary arbitration language in California’s RPA.

D. Appraisal Management Corporations (Oppose Federal Preemption of California’s Efforts to Regulate AMCs)
  (Appraisal Committee)
Now that the Home Valuation Code of Conduct has been implemented, lenders and mortgage brokers will be utilizing AMCs to find appraisers.  Currently, AMCs are not regulated by either California or the Federal government.  California is working on legislation to regulate these entities.  C.A.R. supports the continued regulation of the appraisal industry at the state level and opposes federal preemption of these efforts.

E. Home Price Insurance (No Policy)
  (Conventional Finance and Federal Housing)
These committees will be considering policy on the creation of a Federal insurance program that would protect homeowners against the price of their homes declining.

F. Credit Unions in Real Estate (No Policy)
  (Conventional Finance)
The committee will consider taking a position against the current law that allows Credit Unions to participate in real estate brokerage activities.  While REALTORS® have historically opposed the mixing of banking and commerce there hasn’t been a clear position taken in regards to the Credit Union exception.

G. Shared Equity Homeownership (No Policy)
  (Federal Housing)
The committee will review the issue of “shared equity homeownership” which are government programs set up to provide funding to help families to purchase a home.  In return the buyers forgo a portion of gained equity when they sell their home.

H. Mortgage Unemployment Insurance Program (C.A.R. Program)
  (Business Issues)
  The committee will be reviewing the C.A.R. Mortgage Unemployment Insurance Program.

I. Hunt for Revenues – MID and More – Or Less (Oppose Loss or Tightening of Real Estate Tax Provisions, or Congress Unfairly Targeting Real Estate as a Revenue Raiser)
  (Taxation)
Taxation will be discussing Congress’ need to increase revenue in light of the current budget deficit.

J. Bringing Back the Small Investor (Support)
  (Taxation)
Taxation will be discussing changes to the passive loss rule.  The committee will discuss how the passive loss caps implemented in 1986 were never indexed for inflation and that increasing them will spur demand by small investors.

IV. Other Business

V. Adjournment