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2008
Commercial Legislation And Regulatory
Subcommittee
National Association of REALTORS®
2008 Midyear Legislative Meetings & Trade Expo
Omni Shoreham
Diplomat Room
Wednesday, May 14, 2008
9:00 AM - 10:30 AM
Chair:
Adrian Arriaqa (TX), CIPS, CCIM
Vice Chair: Debbie Tamlin (CO)
Committee Liaison: Cindy Chandler (NC), CCIN, CRE
Committee Executive: Lisa Brechtel (DC)
I
. Call
to Order
1. NAR Ownership Disclosure & Conflict of Interest Policy
OWNERSHIP DISCLOSURE AND CONFLICT OF INTEREST POLICY
Ownership
Disclosure Policy
1. When NAR
has an ownership interest in an entity and a member has an ownership
interest* in that same entity, such member must disclose the existence of
his or her ownership interest prior to speaking to a decision making body
on any matter involving that entity.
2. If a member has personal knowledge that NAR is considering doing
business with an entity in which a member has any financial interest**, or
with an entity in which the member serves in a decision-making capacity*,
or wit, then such member must disclose the existence of his or her
financial interest or decision making role prior to speaking to a decision
making body about the entity.
3. If a member has a financial interest in, or serves in a decision-making
capacity for, any entity that the member knows is offering competing
products and services as those offered by NAR, then such member must
disclose the existence of his or her financial interest or decision-making
role prior to speaking to a decision making body about an issue involving
those competing products and services.
After making the necessary disclosure, a member may participate in the
discussion and vote on the matter unless that member has a conflict of
interest as defined below.
Conflict of Interest Policy
A member of any of NAR’s decision making bodies will be considered to have
a conflict of interest whenever that member:
1. Is a principal, partner or corporate officer of a business providing
products or services to NAR or in a business being considered as a provider
of products or services (“Business:); or
2. Holds a seat on the board of directors of the Business unless the
person’s only relationship to the Business is service on such board of
directors as NAR’s representative; or
3. Holds an ownership interest of more than 1 percent of the
Business.
Members with a conflict of interest must immediately disclose their
interest at the outset of any discussions by a decision making body
pertaining to the Business or any of its products or services. Such members
may not participate in the discussion relating to that Business other than
to respond to questions asked of them by other members of the body.
Furthermore, no member with a conflict of interest may vote on any matter
in which the member has a conflict of interest, including votes to block or
alter the actions of the body in order to benefit the Business in which
they have an interest.
________________________________________
*Ownership interest is defined as the cumulative holdings of the member,
the member’s spouse, children, siblings and to any trust, corporation or
partnership in which any of the foregoing individuals is an officer or
director, or owns, in the aggregate, at least 50% of the (a) beneficial
interest (if a trust), (b) stock (if a corporation) or (c) partnership
interests (if a partnership).
**Financial interest means any interest involving money, investments,
credit or contractual rights.
2. Review of Immigration Principles Document - Not an Action Item at
this time
In January 2008, C.A.R. took the following policy, “That C.A.R. believes that before NAR promulgates a policy on immigration, or decides if they wish to have a policy on immigration, the materials should be presented and voted on by the appropriate NAR committees and the Board of Directors.”
NAR
Immigration PAG Principles
“We recommend NAR adopt the following principles to guide NAR members and
staff in developing policies relating to immigration and in responding to
questions from the public.
Proposed NAR Statement of Principles
NAR believes the interests of its members are best served by stable,
prosperous, thriving and secure communities. Accordingly, NAR policy should
be guided by the following principles:
1. We believe NAR should be involved in immigration issues to the extent
necessary to support stable, prosperous, thriving and secure communities
and to enhance the United States as a destination of choice for those
seeking to own, transact, lease and use real property.
2. We support a timely federal resolution of illegal immigration that
includes (A) securing U.S. borders to prevent illegal entry, (B) allowing
for the flow of labor to accommodate the needs of the U.S. economy, and (C)
settling the status of illegal immigrants in a way that acknowledges the
reality of their presence, their role in the economy and their historic
contributions to U.S. society.
3. We support the rights of foreign citizens to acquire, own and sell U.S.
real property and the right of U.S. citizens to acquire property outside
the U.S. We also support the free flow of international capital for real
estate and oppose laws and regulations that impede that flow.
4. We believe all resident owners of U.S. real estate should be subject to
the same set of rules under the U.S tax system. In addition, any unique
reporting and disclosure requirements regarding foreign buyers and/or their
agents should be kept to a minimum.
II
.
Approval of Previous Meeting's Minutes
III.
Issue Discussion
Climate Change - How will the explosion and push for more “green”
building and development impact the commercial real estate market?
Andy Ehrlich, Senior Vice President at B&D Consulting in Washington D.C., handles energy and climate change issues and advises clients on the opportunities and challenges that exist in the energy legislative and regulatory arenas.
Andy Ehrlich
is the energy and climate change practice group leader. He utilizes his
extensive Washington background to the benefit of his clients. He assists
them in addressing the increasingly complex legislative and regulatory
issues facing a wide range of stakeholders impacted by the transformation
of the U.S. energy sector.
Andy applies his experience as a Chief of Staff in the Leadership of the
U.S. House of Representatives to help his clients address public policy
threats and opportunities in both Congress and the Executive Branch. His
clients include corporations, public policy organizations and individuals
confronted with federal tax, energy and climate change legislation. Andy
has significant experience in the development, management and execution of
legislative, regulatory and public affairs strategies, including direct
advocacy, third party stakeholder efforts and media campaigns. He brings
strategic insight to the federal policy and political landscape which is
complemented by nearly 10 years of client accomplishments.
Andy is working to educate private industry and nonprofits on the
challenges we face in a carbon-constrained world. His experience in the
heavily-regulated health care, energy, insurance and financial services
industries allows him to advise clients on the opportunities and challenges
that exist in the energy legislative and regulatory arenas.
IV
.
Multifamily/Tax Update
V. Tenants-in-Common Workgroup Update
NAR is currently in negotiations with the
SEC concerning REALTORS® roles in securitized TICs. At this moment,
they are unable to put many details on paper due to the changing and
confidential nature of the negotiations. However, there will be a
verbal update at the meetings and if there are any questions, you can
contact Lisa Brechtel at NAR. You can contact her by phone,
202-383-1090, or email at
LBretchel@realtors.org
VI
.
Legislative and Regulatory Update
VII.
Information Sharing of State and Local Activity
Subcommittee members to discuss commercial related activities that are
occurring in their locality that could necessitate federal review/ action
in the future. In addition, subcommittee members will look at how the
economy is impacting the commercial real estate market in their
communities.
VIII
.
Other Business
IX . Adjournment
