VAR Brokers Digest

What the General Assembly does affects you and your clients. While you're looking out for your clients' best interests, VAR is looking out for yours at the state Capitol in Richmond.

Every week during the General Assembly session, VAR brings you Capitol Connections: a comprehensive and concise summary of the previous week's legislative actions affecting Realtors^®, property owners and prospective buyers. VAR encourages you to stay informed about the legislative process for the sake of your business and your clients.

Halftime

As Realtors® from across the Commonwealth arrived in Richmond last week, your VAR lobbying team was putting the finishing touches on advancing the 2010 Legislative Agenda as we head into the second half of this year's General Assembly session.

Here is where we stand on the bills:

Real Estate Signs – House Bill 553 / Senate Bill 64

HB 553 passed the House 94-4 and SB 64 passed the Senate 40 – 0.

Though the real estate sign bills have changed somewhat, we believe the problem Realtors® may be experiencing with local governments has been addressed. If your local government has signed an agreement with VDOT to enforce signage provisions, then government volunteers will be held accountable if they take your signs….but only if the signs have been placed legally. In addition, the sign bills clear up a misinterpretation concerning signs Realtors® put in the ground without the use of tools, digging, etc. Under these two bills, if you do NOT use tools, and if you do NOT dig, you will not be required to call "Miss Utility."

Interpleader Bill – House Bill 231

HB 231 passed the House unanimously and has passed the Senate Courts of Justice Civil Subcommittee unanimously.

HB 231 changes the process that allows brokers to file an interpleader in General District Court. The effect of HB 231 is that it will take less time and money for brokers to have a judge to determine the appropriate party in a deposit dispute.

Appraisal Management Companies Bill – HB 408

HB 408 passed the House unanimously and now awaits action in the Senate.

HB 408 reforms the way appraisers work with Appraisal Management Companies (AMCs). This bill contains 13 specific prohibitions that will ensure better compliance with the law and will allow for more consumer protections.

1031 Exchange Agents – HB 417

HB 417 passed the House unanimously and now awaits action in the Senate.

HB 417 creates protections for consumers who participate in 1031 real estate exchanges by clarifying requirements and prohibitions for 1031 exchange facilitators.

VRLTA reform - HB 407

HB 407 passed the House unanimously and now awaits action in the Senate.

HB 407 makes numerous changes to the VRLTA, including:

1. Provides that courts will allow electronic uploads of unlawful detainers;

2. Clarifies that Rational Utility Billing is covered under the VRLTA as rent;

3. Specifies when property managers can go to court without a lawyer;

4. Clarifies that landlords can charge administrative fees to cover damage and renters insurance programs;

5. Authorizes landlords to withhold security deposits until water and sewer bills have been paid to the locality.

Amnesty for Honesty / Out-of-State Licensees -- House Bill 963 / Senate Bill 457

HB 963 passed the House 99-0 and Senate Bill 457 passed the Senate 40-0.

These bills specify that brokers who self-report violations of VREB regulations, or who report their agents' violations of the regulations, will be protected from sanctions, as long as the broker was not willfully or grossly negligent.

In addition, these bills require out-of-state licensees to take the state portion of the licensing exam before they are granted a license through reciprocity.

Over the next few weeks, the bills will make their way through the remainder of the Session and then on to Governor McDonnell for his signature.

We will keep you advised of any updates to the VAR Legislative Agenda and will make sure you know as each of these bills secure final passage by the General Assembly.

Follow the bills VAR is tracking

Stay up-to-date on the bills VAR is actively tracking.

Click here for the list of bills along with the positions that were recommended by the Bill Review Committee.

Here are the likely positions on legislation:

VAR Bill (Part of VAR's 2010 Legislative Agenda)

Support (VAR will aggressively support)

Oppose (VAR will aggressively oppose)

Support with Amendment (VAR Will be able to support if the bill is amended satisfactorily)

Support No Action (VAR will track but only offer support if needed or requested)

Oppose No Action (VAR will track but only offer opposition if needed or requested)

Monitor (VAR will monitor and take appropriate action as necessary)

Would you like to see the text of a particular bill?

Go to the General Assembly Web site. There is a box in the bottom left-hand corner in which you can enter the bill number (e.g., hb40 [House Bill 40], sj121 [Senate Joint Resolution 121]). Once the page loads, click on the "full text" hyperlink to read the bill. Additionally, from there, you may click on the "pdf" in the upper right-hand corner for a numbered version of that bill.

Realtor� Day on the Hill: A Huge Success

Thank you to the hundreds of Realtors� who attended this past Wednesday's Day on the Hill event. Look for a recap of this and all other events from VAR's 2010 Legislative & Education Conference in next month's Commonwealth Online.

General Assembly Session Tools

Respond to Calls-to-Action; VAR sends them out only on critical issues, but when you receive an e-mail asking you to contact your legislators, PLEASE DO SO. Legislators listen when over 30,000 Realtors^� speak.

Do you know a legislator on a first-name basis? Then become a Key Contact by contacting Meredith Cox at MCox@VARealtor.com.
See who gave money and who received money with VPAP.org.
Or, just look up your legislators.

RPAC: Helping Keep Realtor�-Friendly Candidates in Office, Bad Bills Out

RPAC helps elect candidates who support Realtor�-friendly issues. Through the partnership of VAR lobbying and RPAC, a lot of good legislation has passed.

Now, take a moment to think about all of the bad legislation that this partnership has prevented from passing.

RPAC is a voluntarily contribution...but doesn't it seem more like a necessary investment in your business?

Invest in RPAC today (as always, your local association will receive credit.)

Contributions are not deductible for federal or state income tax purposes. Contributions to RPAC are voluntary and are used for political purposes. You may contribute more or less than the suggested amount. You may refuse to contribute without reprisal and the National Association of Realtors� or any of its state associations or local boards will not favor or disfavor any member because of the amount contributed. Up to 100% of your contribution is sent to National RPAC and is charged against your limits under federal law (2 U.S.C. 441a); National RPAC returns up to 70% of your contribution to Virginia RPAC for use in connection with the election of state and local candidates in Virginia.

You Look Out for Your Clients. VAR Looks Out for You.

Your VAR Law & Policy team will be tracking many other bills as they are introduced. Look forward to receiving information on numerous other pieces as the Bill Review Committee has an opportunity to designate a position on the issue. The goal of the VAR Law & Policy team is to ensure that measures introduced into the legislature are beneficial to you as a Realtor^�. We appreciate your time and effort when you volunteer for our legislative efforts; it helps ensure that all Virginians have the ability to realize the American dream of homeownership.