House Passage of Flood Bill Critical Step Toward Reauthorization, Reform

WASHINGTON (November 14, 2017) – With less than a month left before the National Flood Insurance Program expires, the National Association of Realtors® is applauding the House of Representatives for passing what NAR believes is smart, much-needed support for the program.

“Realtors® know first-hand what happens when the NFIP expires, and it isn’t good for consumers, businesses or our communities” said NAR President Elizabeth Mendenhall, a sixth-generation Realtor® from Columbia, Missouri and CEO of RE/MAX Boone Realty. “We appreciate the leadership that members of Congress have shown passing sound reforms, which will strengthen the program, protect property owners and deliver good results for taxpayers.”

The NFIP is responsible for providing the vast majority of flood insurance policies in over 20,000 communities nationwide. Without it, most consumers would be unable to purchase the flood insurance that’s required on mortgages in a flood plain. In the past, NAR has shown that 40,000 home sales are lost every month when the program is unavailable.

H.R. 2874, the “21st Century Flood Reform Act,” reauthorizes the NFIP for five years, while taking steps to reform the program. These reforms include:

  • Authorizing $1 billion to elevate, buy out or mitigate high-risk properties
  • Capping flood insurance premiums at $10,000 per year for homeowners
  • Removing hurdles to the private flood insurance market, which often offers better coverage at lower cost than the NFIP.
  • Providing for community flood maps and a homeowner’s ability to appeal their flood designation
  • Better aligning NFIP rates to match a property’s true risk, particularly for in-land and lower-value properties
  • Improving the claims process for flood victims
  • Addressing repeatedly flooded properties, which account for 2 percent of NFIP policies but 25 percent of claim payments

These changes, Mendenhall said, would improve the NFIP’s financial health, put consumers on a stronger footing, and deliver certainty to current and prospective homeowners.

“The conversation happening in Washington on this issue is fundamentally about how we deliver the best results for consumers and taxpayers, and that’s a good conversation to have,” Mendenhall said. “Realtors® are simply asking that Congress swiftly deliver on the promise of this program so buyers can move forward without interruption and homeowners know their most important asset is protected. With December 8 around the corner, we’re hopeful the Senate will now step up to the plate and do their part by passing a flood reform and reauthorization package without delay.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.3 million members involved in all aspects of the residential and commercial real estate industries.

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THE LEGISLATIVE LINE Number 3 January 29, 2017

VIRGINIA PENINSULA ASSOCIATION OF REALTORS®

THE LEGISLATIVE LINE

The Legislative Update from VPAR

Number 3                              January 29, 2017

 

As we enter the last full week before Crossover, the official halfway mark of Session on February 7th, the speed of the legislative process has picked up considerable pace. Committees and subcommittee in the House and Senate are wrapping up their dockets, with some holding their final pre-Crossover meeting late last week.

But, true to form, some of the more contentious issues have yet to be vetted in the Committee structure. Broadband reform, retrieval of hunting dogs on private property and historic tax credits all remain in the queue for action this week. And the state budget continues to be studied and analyzed, with hundreds of budget amendments being heard in the various subcommittees of both the House Appropriations Committee and the Senate Finance Committee.

REALTOR® bills have gained considerable traction and are advancing with little controversy.

For a full review of the 2017 VAR legislative agenda, go to:

http://www.virginiarealtorschoose.com/legislativeupdates/

Transfer of Security Deposits upon the Sale of a Dwelling Unit

HB 1623           

DELEGATE YANCEY

PASSED THE HOUSE 99-0 and NOW IS IN THE SENATE

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB1623+pdf

 

SB 991

SENATOR DANCE       

WILL BE HEARD IN SENATE GENERAL LAWS & TECHNOLOGY COMMITTEE 1/30

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB991+pdf

 

Allows a property manager to transfer a security deposit to the owner and to simply provide notice to the tenants, versus having to obtain the written consent of the owner and tenants.

 

Licensee Responsibilities – Transfer of Escrow Funds and Foreclosures

HB 2281                        DELEGATE LEFTWICH

REPORTED 21-0 OUT OF THE HOUSE COURTS COMMITTEE; ON TO THE HOUSE FLOOR

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2281+pdf

 

SB 966             SENATOR OBENSHAIN

WILL BE HEARD IN SENATE GENERAL LAWS & TECHNOLOGY COMMITTEE 1/30

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB966+pdf

 

Allows for a smoother transition for an existing tenant and a new owner following a foreclosure.

 

Allows the tenant to continue to pay rent to the: (i) new landlord, (ii) the property manager at the time of the foreclosure, or (iii) the courts, through an escrow account.

 

Allows for the written property management agreement to continue in place following a foreclosure on a month-to-month basis until terminated by either the property manager or the new owner, unless a shorter period is provided for in the property management agreement.

 

This legislation does not change Virginia Code Section 55-248.15:1 that places the responsibility on the landlord at the lease termination to make disposition of the tenant’s security deposit, regardless of whether that landlord received the tenant’s security deposit from a prior landlord.

 

POA Act Amendments

HB 2045                        DELEGATE (and REALTOR®!) MILLER

REPORTED FROM HOUSE GENERAL LAWS 21-0; ON TO THE HOUSE FLOOR

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2045+pdf

 

SB 1231                        SENATOR BILL STANLEY

WILL BE HEARD IN SENATE GENERAL LAWS & TECHNOLOGY COMMITTEE 1/30

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB1231+pdf

 

Condo Act Amendments

HB 2274                        DELEGATE DANNY MARSHALL

REPORTED FROM HOUSE GENERAL LAWS 21-0; ON TO THE HOUSE FLOOR

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2274+pdf

 

SB 1255                        SENATOR BILL DeSTEPH

WILL BE HEARD IN SENATE GENERAL LAWS & TECHNOLOGY COMMITTEE 1/30

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+SB1255+pdf

Associations cannot condition, limit or prohibit for sale signs other than limiting signs to those that are in compliance with the VREB regulations.

 

Associations cannot require a formal power of attorney from a real estate licensee to represent their clients before the association and are required to accept a document from the real estate licensee signed by the owner that confirms representation.

 

Adds that failure to deliver the association disclosure packet within the 14-day requirement subjects the association to up to $1,000 fine imposed by the Common Interest Community Board.

 

 

Residential Property Disclosure Act Amendments

HB 2034                        DELEGATE (and REALTOR®!) MILLER

PASSED THE HOUSE 99-0 and NOW IS IN THE SENATE

http://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB2034+pdf

 

Renames the “red-flag” disclosure statement the “buyer to beware” statement.

Adds the following buyer to beware statements:

Owner makes no representations with respect to underlying conservation or other easements.

Owner makes no representations with respect to an underlying community development authority.

Allows for electronic delivery of the form to the potential purchaser.

Generally, “cleans up” the Residential Disclosure Act.

 

PHOTOS OF THE WEEK

http://www.richmond.com/news/virginia/government-politics/general-assembly/collection_cf32e4ff-910b-59ad-ae1a-6340ececdff5.html

 

 

 

VPAR’s General Assembly Delegation Contact Information

 

Del. Gordon Helsel, R-91st , Poquoson               (804) 698-1091   DelGHelsel@house.virginia.gov

Del. Keith Hodges, R-98th  Urbanna                    (804) 698-1098   DelKHodges@house.virginia.gov

Del. Rick Morris, R-64th, Carrollton                      (804) 698-1064   DelRMorris@house.virginia.gov

Del. Mike Mullin, D-93rd, Newport News               (804) 698-1093   delmmullin@house.virginia.gov

Del. Brenda Pogge, R-96th, Yorktown                 (804) 698-1096  DelBPogge@house.virginia.gov

Del. Marcia “Cia” Price, D-95th, Newport News     (804) 698-1095   DelMPrice@house.virginia.gov

Del. Jeoin Ward, D-92nd, Hampton                      (804) 698-1092 DelJWard@house.virginia.gov

Del. David Yancey, R-94th, Newport News           (804) 698-1094   DelDYancey@house.virginia.gov

Sen. Mamie Locke, D-2nd, Hampton                    (804) 698-7502   district02@senate.virginia.gov

Sen. Monty Mason, D-1st, Williamsburg             (804) 698-7501 district01@senate.virginia.gov

Sen. Tommy Norment, R-3rd, James City             (804) 698-7503   district03@senate.virginia.gov

 

 

 

GENERAL ASSEMBLY WEBSITES OF INTEREST

 

We would like to share with you some very valuable (and helpful) information regarding General Assembly Resources:

 

 

In order to prepare for the 2017 session, we encourage you to familiarize yourself with a few helpful websites and other relevant information. Our goal is for you to be able to follow the action here in Richmond as well as to participate in the process.

 

To watch the House of Delegates in Session live at Noon each day, click here:  http://virginia-house.granicus.com/ViewPublisher.php?view_id=3

 

To watch the Virginia Senate in Session live at noon each day, click here:  http://virginia-senate.granicus.com/ViewPublisher.php?view_id=3

 

Subscribe to receive daily e-mails with news articles highlighting major political and legislative happenings. http://www.vpap.org/vanews

 

Virginia Legislative Information System (list of General Assembly members, all legislation, committee action, daily meeting schedule and daily floor calendars)

http://lis.virginia.gov/

 

Who’s My Legislator?

http://whosmy.virginiageneralassembly.gov/

 

Governor of Virginia

https://governor.virginia.gov/

 

Governor’s Cabinet

https://governor.virginia.gov/the-administration/the-cabinet/

 

Lt. Governor

http://www.ltgov.virginia.gov/

 

Attorney General

http://www.oag.state.va.us/

 

REALTOR® DAY ON THE HILL – FEBRUARY 8, 2017

Mark your calendars now for February 8th so that you can attend VPAR’s Annual REALTOR® Day on the Hill! Join REALTORS® from across the Commonwealth as they descend upon the General Assembly to tout the Association’s legislative agenda. Visit with legislators from the region, hear from “in the know” politicos on current issues and tour the Capitol and the Executive Mansion. Join us for a highly beneficial day!

 

For additional information or other details, please contact Susan Gaston, VPAR’s Legislative Consultant, at 757-871-1445, or by e-mail at susan@gastongroup.com. We also encourage our members to follow the General Assembly on Facebook at https://www.facebook.com/VPAREALTORS/?fref=ts&ref=br_tf .

 

The Legislative Update from VPAR

VIRGINIA PENINSULA ASSOCIATION OF REALTORS®

THE LEGISLATIVE LINE

The Legislative Update from VPAR

Number 2 – January 22, 2017

 

Day 12 of the 45-day “short session” is in the books. Only 15 days until Crossover, the halfway mark of the Session. And then, just 18 days after that until adjournment. But who’s counting?

Senate Committee assignments just were finalized last week, as the “upper chamber” welcomed two new members, Sen. Jennifer McClellan (D-9th) and Sen Mark Peake (R-22nd).  Sen. McClellan was elected in a special election to fill the term of former Virginia Senator Donald McEachin, who was elected in November to the 4th Congressional District, while Sen. Peake won the seat of former Virginia Senator Tom Garrett, who now represents the 5th Congressional District. VPAR REALTORS® will be happy to note that Sen. Monty Mason (D-1st) was appointed to the Senate Committee on General Laws and Technology, which is where the majority of our housing and real estate legislation is referred. With these committees now fully seated, the real work in the Senate will begin to speed up a bit.

Friday marked the last day for bills to be introduced, so more legislation will be reviewed as the week moves along. As of now, 2,355 bills have been submitted. It’s NFL football season (GO PATS!!!! – CEO’s prerogative there…), and college basketball season (GO KENTUCKY WILDCATS!!! – the writer’s prerogative here..), so many of us are “stats oriented” right now. In keeping with our focus on sports data, below is an interesting breakdown of how the 217 General Assembly Session legislative stats are stacking up:

AS OF SUNDAY, JANUARY 22nd

 

1084    House Bills Introduced                       806      Senate Bills Introduced

271      House Joint Resolutions Introduced  118      Senate Joint Resolutions Introduced

55        House Resolutions Introduced                       21        Senate Resolutions Introduced

 

131      Bills PASSED

313      Bills FAILED

2135    PENDING ACTION

Meanwhile, the REALTOR® Legislative Agenda gained traction this past week. Two Virginia REALTORS® bills – HB 1623, dealing with the transfer of security deposits during the sale of a rental unit, and HB 2034, providing clarifications to the list of items real estate buyers should research before purchasing property – passed out of committee unanimously and will be considered by the full House early next week. Two other bills, HB 2045 and HB 2274, legislation protecting certain homeowners’ rights within property and condo owners associations, were taken up in the House General Laws housing subcommittee and will be considered again next Tuesday.

Another bill of interest to our Virginia REALTORS® property managers is HB 2006, which sets out the rights and responsibilities under the Virginia Fair Housing Law with respect to maintaining an assistance animal in a dwelling. The legislation is a recommendation of the Virginia Housing Commission. Watch one of VAR’s most recent Legal Lessons for clarification on the Virginia Real Estate Board’s latest guidance document regarding assistance animals.

For a full review of the 2017 VAR legislative agenda, go to: http://www.virginiarealtorschoose.com/legislativeupdates/

And for an interesting PHOTO MONTAGE of recent days during Session, go to:

http://www.richmond.com/news/virginia/government-politics/general-assembly/collection_c2ca3131-a58f-5ef0-b1f2-82adeca7480c.html

 

http://www.richmond.com/news/virginia/government-politics/general-assembly/collection_4f82b933-a73d-524e-8e2d-02609f0a40a3.html

 

VPAR’s General Assembly Delegation Contact Information

 

Del. Gordon Helsel, R-91st , Poquoson               (804) 698-1091   DelGHelsel@house.virginia.gov

Del. Keith Hodges, R-98th  Urbanna                    (804) 698-1098   DelKHodges@house.virginia.gov

Del. Rick Morris, R-64th, Carrollton                      (804) 698-1064   DelRMorris@house.virginia.gov

Del. Mike Mullin, D-93rd, Newport News               (804) 698-1093   delmmullin@house.virginia.gov

Del. Brenda Pogge, R-96th, Yorktown                 (804) 698-1096  DelBPogge@house.virginia.gov

Del. Marcia “Cia” Price, D-95th, Newport News     (804) 698-1095   DelMPrice@house.virginia.gov

Del. Jeoin Ward, D-92nd, Hampton                      (804) 698-1092 DelJWard@house.virginia.gov

Del. David Yancey, R-94th, Newport News           (804) 698-1094   DelDYancey@house.virginia.gov

Sen. Mamie Locke, D-2nd, Hampton                    (804) 698-7502   district02@senate.virginia.gov

Sen. Monty Mason, D-1st, Williamsburg             (804) 698-7501 district01@senate.virginia.gov

Sen. Tommy Norment, R-3rd, James City             (804) 698-7503   district03@senate.virginia.gov

 

GENERAL ASSEMBLY WEBSITES OF INTEREST

 

We would like to share with you some very valuable (and helpful) information regarding General Assembly Resources:

 

 

In order to prepare for the 2017 session, we encourage you to familiarize yourself with a few helpful websites and other relevant information. Our goal is for you to be able to follow the action here in Richmond as well as to participate in the process.

 

To watch the House of Delegates in Session live at Noon each day, click here:  http://virginia-house.granicus.com/ViewPublisher.php?view_id=3

 

To watch the Virginia Senate in Session live at noon each day, click here:  http://virginia-senate.granicus.com/ViewPublisher.php?view_id=3

 

Subscribe to receive daily e-mails with news articles highlighting major political and legislative happenings. http://www.vpap.org/vanews

 

Virginia Legislative Information System (list of General Assembly members, all legislation, committee action, daily meeting schedule and daily floor calendars)

http://lis.virginia.gov/

 

Who’s My Legislator?

http://whosmy.virginiageneralassembly.gov/

 

Governor of Virginia

https://governor.virginia.gov/

 

Governor’s Cabinet

https://governor.virginia.gov/the-administration/the-cabinet/

 

Lt. Governor

http://www.ltgov.virginia.gov/

 

Attorney General

http://www.oag.state.va.us/

 

 

REALTOR® DAY ON THE HILL – FEBRUARY 8, 2017

Mark your calendars now for February 8th so that you can attend VPAR’s Annual REALTOR® Day on the Hill! Join REALTORS® from across the Commonwealth as they descend upon the General Assembly to tout the Association’s legislative agenda. Visit with legislators from the region, hear from “in the know” politicos on current issues and tour the Capitol and the Executive Mansion. Join us for a highly beneficial day!

 

For additional information or other details, please contact Susan Gaston, VPAR’s Legislative Consultant, at 757-871-1445, or by e-mail at susan@gastongroup.com. We also encourage our members to follow the General Assembly on Facebook at https://www.facebook.com/VPAREALTORS/?fref=ts&ref=br_tf .