Winning passage of a state constitutional amendment would be a feather in the cap of any organization. But for Louisiana REALTORS® fighting to ban transfer taxes, last November’s victory was especially important. Louisiana now joins Arizona, Montana, and Missouri, as the only states having constitutional amendments prohibiting transfer taxes from being imposed on the sale of a property.
Despite much legislative attention to government-sponsored enterprise reform, as evidenced by the three dozen Congressional bills dealing with Fannie Mae and Freddie Mac introduced in 2011, none had made it out of full committee by early December. Furthermore, action on GSE reform is unlikely before the 2012 elections, says Douglas M. Bibby, president of the National Multi Housing Council in Washington, D.C., an advocacy organization for the apartment industry.