Legislative
2011 Legislative Priorities
While 2010 was quite a year in the state’s Capitol we anticipate many legislative challenges ahead for 2011.
The top legislative priorities for next year include:
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Fighting against any reductions to the Mortgage Interest Deduction.
Fighting against any reductions to the Mortgage Interest Deduction.o The deficit-reduction plan released by members of President Obama’s deficit-cutting panel included a provision to eliminate the mortgage interest deduction as one of the recommendations to balance the federal budget.o This will be a top legislative priority for both NAR and NYSAR in the coming year. •Opposing all proposed increases to the statewide Mortgage Recording Tax and Transfer Taxes.
Opposing all proposed increases to the statewide Mortgage Recording Tax and Transfer Taxes.o NYSAR was successful in preventing several proposals to increase the statewide mortgage recording tax, a new recording tax on cooperative purchase transactions and various other proposals to increase real estate transaction taxes in 2010. NYSAR anticipates many of the same proposals to be reintroduced in 2011.•Continuing to work with the NYS Department of State to compile and implement more modern and comprehensive advertisement regulations.
Continuing to work with the NYS Department of State to compile and implement more modern and comprehensive advertisement regulations.o NYSAR has been working closely with the Department of State to develop a comprehensive overhaul of New York’s advertising guidelines. With a new administration coming into office in 2011, NYSAR will continue their efforts to enact substantive and useful reforms. •Supporting and securing passage of a Property Tax Cap.
Supporting and securing passage of a Property Tax Cap.o For years NYSAR has been advocating for a property tax cap. In 2010, New York State came close to passing a property tax cap however the effort was stalled by the Assembly. In 2011 NYSAR will continue to strongly advocate for the benefits and necessity of a property tax cap. In 2011, we also expect to continue to fight against several other misguided bills introduced in 2010, including:
•The Green Jobs/Green New York on-bill financing legislation.
The Green Jobs/Green New York on-bill financing legislation.•An unnecessary measure to increase state wetlands oversight.
An unnecessary measure to increase state wetlands oversight.•A bill requiring a loan counseling disclosure notice to be attached to all contracts of commercial or residential sale of real property.
A bill requiring a loan counseling disclosure notice to be attached to all contracts of commercial or residential sale of real property.•Legislation requiring brokers to verify the zoning compliance of all properties before they list them.
Legislation requiring brokers to verify the zoning compliance of all properties before they list them.•A proposal that would restrict a broker’s business area to the county where they reside or have an office.
A proposal that would restrict a broker’s business area to the county where they reside or have an office.•An ill-conceived bill that would outlaw “exclusive” brokerage agreements.
An ill-conceived bill that would outlaw “exclusive” brokerage agreements.REALTORS® must continue our work to establish and cultivate relationships with our lawmakers. But we need your help. There are so many ways to get involved to protect our industry from responding to Calls for Action to donating to RPAC. It is essential that we remain vigilant in our efforts to promote homeownership in New York and protect against increased taxes.
