Governmental Affairs Rochester Chapter

February 22, 2019

The 2019 FEDERAL ADVOCACY AGENDA:

The National Association of REALTORS® (NAR) represents 1.3 million residential and commercial practitioners involved in all facets of the industry as brokers, sales agents, property managers, appraisers and counselors. As the largest professional trade association in the United States, NAR advocates policy initiatives that promote and protect a dynamic U.S. real estate market fostering homeownership and investment opportunities for qualified purchasers of real property. Read about the following public policy initiatives that NAR will focus on in 2019, which includes information on Federal Taxes and Real Estate and Opportunity Zones:

Federal Taxes and Real Estate

The Tax Cuts and Jobs Act was enacted in December, 2017 and is generally effective as of January 1, 2018. The new law includes many changes that will affect residential and commercial real estate, as well as real estate professionals. As with most major legislation, many details as to how the new law will be applied and administered have been left to regulators (Treasury Department and Internal Revenue Service). Treasury and IRS officials have already begun to issue guidance on the bill and more is expected over the coming weeks and months. NAR is monitoring the process carefully and will be weighing in as necessary to help ensure the most positive outcome for real estate and practitioners as possible.  Read the full article on the NAR website.


January 2, 2019

FROM OUR RAC NYSCAR AFFILIATE MEMBER HARRIS BEACH PLLC:

New York's First Comprehensive Lobbying Regulations Take Effect January 1, 2019

On January 1, 2019, new lobbying regulations go into effect in New York. Developed by the Joint Commission on Public Ethics (JCOPE), these regulations apply to organizations and individuals registered as lobbyists or clients of a lobbyistRead Full Article.

View 2018 Governmental Affairs Archive