Government Affairs
Point of Sale Resource Updated
To view the PDF, click here.
The March 6, 2012 Presidential Primary Election.jpg)
The March 6th Primary will include 15 issues and feature candidates running for President, U.S. Congress, U.S. Senate, State Senate, State House Representatives, County Prosecutor, County Council Districts 2, 4, 6, 8, and 10. In addition, there will be candidates for Ohio Supreme Court, Court of Appeals, Cuyahoga County Common Pleas Court, as well as candidates for the Republican State and County Central Committees and Democratic State Central Committees.
The Board of Elections no longer automatically mails ballot applications to voters prior to each election. All registered voters may continue to Vote by Mail, however voters must now request their ballot application.
Vote by Mail ballot applications are available at the Board of Elections website: www.boe.cuyahogacounty.us, by calling the Board of Elections at 216-443-3298, or visiting the Board of Elections at 2925 Euclid Avenue, Cleveland. Ballot applications are also available at all public libraries.
Voters are being advised to become familiar with new political boundaries for County Council, State Legislative, and Congressional Districts that go into effect for the March 6th Primary Election. Maps are available on the Board of Elections website: www.boe.cuyahogacounty.us.
Voters should check their voting information prior to each election. Voters may confirm their ward, precinct, and voting location at the Board of Elections website: www.boe.cuyahogacounty.us or by calling 216-443-3298.
Check out these important dates and deadlines for voting by mail, registration, etc.
Board Approves Position on Municipality Fees
Throughout the previous year, the Government Affairs Committee worked to develop a policy position for the Board of Directors to adopt on behalf the CABOR membership.
During its most recent meeting, the Board of Directors unanimously approved the position paper developed by the Committee.
Here is an excerpt from the paper: “CABOR believes that in order for municipal involvement to be effective and supportive, a city must consider certain components when assigning fees to various services, permits and the like. Specifically, CABOR believes:
• When a fee is charged for city services, CABOR stresses a city’s obligation to only charge an amount that is equal to the cost of performing the service...
• In an instance when home repairs or other city services are necessary, a city should never require an amount to be placed into escrow that exceeds the estimated amount of repairs, as such a requirement places an undue, unfair and unnecessary financial burden on property owners…”
This policy position will be shared with all local mayors later this month. Read the entire paper here (coming soon).
SOPA & PIPA—Why Should Realtors Care?
What is the fundamental issue?
Two online piracy bills were recently introduced the Stop Online Piracy Act (SOPA) H.R. 3261 and the Protect IP Act (PIPA) S. 968. These bills have garnered a storm of media attention in the past few weeks.
The bills main targets are "rogue" overseas sites like torrent hub and The Pirate Bay, which are a trove for illegal downloads of movies and other digital content. The bill would authorize the U.S. Department of Justice to seek court orders against websites accused of infringing on copyrights, or of enabling or facilitating copyright infringement. After delivering a court order, the US Attorney General could require US-directed Internet service providers, ad networks, and payment processors to suspend doing business with sites found to infringe on federal criminal intellectual property laws. The Attorney General could also bar search engines from displaying links to the sites.
These bills appear to have stalled while the interested parties on both sides of the issue seek consensus on how to move forward.
I am a real estate professional. What does this mean for my business?
Real estate professionals create valuable content/intellectual property that is increasingly distributed on the internet. That content must be carefully protected from theft in a manner that does not create serious unintended consequences for members doing business on the internet.
NAR Policy:
While NAR has taken no position on the bills yet, they are carefully weighing both the need to protect our members' intellectual property through copyright and trademark law while avoiding harmful unintended consequences for our members who increasingly do their business on the internet.
They are working through our policy committee process to determine our position on this issue.
Legislative/Regulatory Status/Outlook
The Senate announced that consideration on S. 968 will be delayed until consensus is reach on a process for moving forward. Sen. Leahy (D-VT) has announced that an amended version of the bill will released soon.
H.R. 3261 is scheduled to be marked up in the House Judiciary Committee in February. This too could be pushed back.
Understanding Mortgage Debt Cancellation
(From realtor.org) A lender will, on occasion, forgive some portion of a borrower's debt. The general tax rule that applies to any debt forgiveness is that the amount forgiven is treated as taxable income to the borrower. Some exceptions to this rule are available, but, until recently, when a lender forgave some portion of a mortgage debt (such as in so-called "short sales," foreclosures and "workouts"), the borrower was required to pay tax on the debt forgiven.
A law enacted in December 2007 provides relief to troubled borrowers when some portion of mortgage debt is forgiven. That relief expires on Dec. 31, 2012. Use this information to better understand mortgage debt cancellation:
General Rule for Debt Forgiveness:
If a lender forgives some or all of an individual’s debts, the general rule is that the forgiven amount is treated as ordinary income and the borrower must pay tax on the forgiven amount. Exceptions apply for bankruptcy, insolvency and certain other situations, including mortgage debt. Read more...
Homeownership Matters to State of the Union
Washington, January 24, 2012
The following is a statement by National Association of Realtors® President Moe Veissi:
“The National Association of Realtors® commends President Obama for his remarks in support of homeowners and the struggling housing market during tonight’s State of the Union address. As leading advocates for homeownership, Realtors® know that restoring the health of the housing market is the only way to achieve a broader economic recovery.
“Realtors® stand ready to help Congress and the administration implement Obama’s proposal to significantly reduce monthly mortgage payments by streamlining the refinancing process.
But beyond that, we must make housing a national public policy priority. Realtors® believe that more must be done to stem the rising inventory of foreclosed homes and address the lack of available and affordable mortgage financing, which is inhibiting a meaningful housing market recovery.
“Our families, communities, the housing market and economy all suffer when people lose their home to foreclosure. Realtors® are calling upon the Obama administration, Congress and lenders to help keep more people in their homes by taking more aggressive steps to modify loans and help homeowners significantly reduce their monthly mortgage payments.
“Realtors® also urge the government and lenders to streamline the often time-consuming and inefficient short sales process and to quickly approve reasonable offers when a family is absolutely unable keep their home. Keeping people in their homes and reducing foreclosures will help minimize the negative impact of distressed properties on home values and neighborhoods.
“Expanding financing opportunities could also help reduce excess inventories of distressed properties. Increased fees and higher down payments are making it harder for many creditworthy homebuyers and investors to obtain financing, thwarting the sale of distressed properties and prolonging the impact those homes have on local markets.”
“While we are beginning to see early signs of stabilization in the housing market, NAR calls on Congress and the Obama administration to come together and make housing a priority issue. In this vein, we urge the White House to host a national housing summit to encourage a broad discussion among stakeholders to help formulate and advance policies that move the country toward a real housing and economic recovery.”
News from City Hall Observers
*As reported during the 12/08/2011 Government Affairs Committee Meeting
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Garfield Heights - In an effort to spur more home sales, Garfield Heights City Council approved an ordinance (68-2011) that waives the 110% escrow requirement for repair of point of sale inspection violations. The law suspends the escrow amount from 11/06/2011 through 11/06/2012. Additionally, the same legislation grants a free one-year family pass to the city’s recreation center as an additional incentive to purchase a home in Garfield Heights. CABOR will advocate for the extension of this ordinance throughout the coming year. Read the entire ordinance here.
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Brook Park - Council approved an anti-poaching agreement.
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Strongsville - The city continues to look for new businesses to come into the area.
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Chagrin Falls - It was reported that city is looking into the cause behind the increase in the number of rentals.
**If you have news to report, please email the Government Affairs Director.
2011 NAR Legislative and Regulatory Year in Review
During 2011, the REALTOR® Legislative and Regulatory Agenda has focused on ensuring the continued flow of capital into the real estate market, preserving residential and commercial property ownership, and protecting the business interests of its members. NAR has made significant progress on all fronts. To view the full list of issues NAR is working on, please visit www.realtor.org/politicaladvocacy. To view a printable version, click here.
The 3.8% Tax
Have you or any of your colleagues received a forwarded email about a 3.8% tax on home sales that was placed in the national health care bill? For the last year or so, various emails have been circulating among REALTORS® with vague and sometimes inaccurate information about this provision.
View the PDF
Scenarios Brochure/Fact Sheet
Video
Fair Housing
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State Treasurer of Ohio Programs
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GrowNow: Growing Ohio Small Business NOW gives small business owners a 3% reduction on their bank loan rates, saving upwards of $24,000 over two years.
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Ag-LINK: Agricultural Linked Deposit Program provides reduced-rate financing to Ohio farmers to help offset the high cost of annual operating funds.
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ECO-Link: Energy Conservation for Ohioans Linked Deposit Program is designed to provide reduced rate financing through partnering banks for Ohioans completing weatherization improvements and installing energy efficient products in their homes.
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SaveNOW: This program is a higher interest savings account which rewards savers with a 3.00% interest rate bonus. The program allows individuals the opportunity to build their financial safety net, while gaining financial education.
Government Affairs / RPAC Newsletter
Become a City Hall Observer
Financial Incentives for Homebuyers & Owners
Point of Sale Information
Property Tax Rates
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Broker Involvement Program & Enrollment Form
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Donate to RPAC
The Cleveland Area Board of REALTORS® has long committed staff and resources for governmental affairs. We believe advocacy and lobby efforts are essential to protecting our profession and the environment in which we work in.
While our staff and committed volunteers do a superb job of keeping track of upcoming legislation that may affect the real estate industry, we occasionally receive tips from members who are not generally involved with our government affairs activities but have encountered issues that need to be addressed by CABOR. If you encounter legislation that could possibly affect our industry, whether good or bad, please contact one of our government affairs specialists.
Jamie McMillen: 216-525-4834 or by e-mail by clicking here.
Mike Caputo: e-mail by clicking here.
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