At the October Legislative Policy Committee meeting Rachel Nance, CAR’s Vice-President for Public Policy, talked about bills related to real estate that she thinks could be introduced during the 2013 legislative session.
HOA Manager Licensing: It is unclear whether this would entail licensing or simply registration, but apparently the Division of Real Estate would like to see more accountability for HOA Managers.
Tax on Professionals: Ms. Nance said it is rumored that such a bill might be introduced to help fund K-12 education. Obviously if such a bill were passed it would impact everyone in the real estate industry.
Seller Financing: Evidently the Mortgage Loan Originator’s Board received a complaint and wants a rule to require real estate brokers representing sellers in transactions involving seller financing to be licensed as mortgage loan originators. CAR will ask the Division of Real Estate to intervene but if needed, CAR will find a sponsor to run a bill to prevent such a rule from being adopted.
Legislation related to foreclosure and water supplies for subdivisions may also pop up this coming year. The legislative session opens on January 9, 2013.