The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Government Affairs policy staff. To receive this content via email, subscribe to NAR's Weekly Report newsletter and check the "legislative & regulatory issues" box.
On February 9, 2016, President Obama released his budget for the 2017 fiscal year, which begins on October 1.
NAR 2016 Vice President Sherri Meadows testified before the House Veterans Affairs Subcommittee on Economic Opportunity at a hearing entitled, "A Review of VA's Loan Guaranty and Specially Adaptive Housing Grant Programs (SAH)."
Last week the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits.
NAR, along with several other real estate industry partners, sent a letter to the Financial Accounting Standards Board (FASB) requesting an exemption for private companies to comply with the new lease accounting standards.
The Supreme Court issued an emergency order blocking the EPA from implementing its Clean Air Plan to reduce CO2 emissions from power plants.
The CCIM Institute and IREM joined a coalition letter with other Commercial Real Estate industry groups to the House Transportation and Infrastructure Committee in support of an amendment to the Aviation Innovation, Reform and Reauthorization (AIRR) Act of 2016.
The House of Representatives passed, "Housing Opportunities through Modernization Act” with a unanimous vote of 427-0!
This week saw significant activity related to the Waters of the U.S. rule, also known as WOTUS.
On January 12, 2016, The Federal Housing Finance Agency (FHFA) finalized the Federal Home Loan Bank (FHLB) Membership rule.
The recently-enacted Protecting American Taxpayers from Tax Hikes (PATH) Act (H.R. 2029, P.L. 114-113) includes two NAR-supported provisions affecting the Foreign Investment in Real Property Tax Act (FIRPTA) that are estimated to boost significantly foreign investment in U.S. commercial real estate.