LEGISLATIVE ISSUES ADDRESSED IN SACRAMENTO MAY 1 – 4, 2019

Key Issues Addressed with Legislators

REALTORS are sponsoring AB1590 – Creates first-time home buyer tax credits to provide more opportunities for achieving the dream of home ownership in under-served communities.

REALTORS are sponsoring SB50 – The legislation seeks to authorize implementation of transit/job-rich housing project bonuses for new development because job growth is outpacing housing starts.

REALTORS oppose SB329 – It forces all residential rental property owners to involuntarily participate all government assistance and subsidy programs including Section 8 housing.

Issues addressed in Committee and Approved by C.A.R. Directors to sponsor or oppose

Membership

Peggy Davis of Nevada County approved as an C.A.R. Honorary Member

May 10^th deadline for C.A.R. leadership position applications/nominations

Homeownership Housing –

C.A.R. to take a watch position on SB5 which proposes to establish the Local-State Sustainable Investment Incentive Program.

C.A.R. to oppose unless amended SB274 to eliminate provisions requiring mobile home park management to offer tenancy under the exact same terms and conditions that were in place prior to the destruction of a mobile home park.

C.A.R. to support SB434 which requires a managing agent for a home owners association whose management agreement has been terminated to turn over all operations manuals and documents within 30 days of written request.

C.A.R. to seek to amend AB587 to mirror existing deed restriction requirements (45 yrs. for owner-occupied units) instead of in perpetuity for the construction of an accessory dwelling unit.

Investment Housing –

C.A.R. adopted an “Oppose unless Amended” position on AB1482 which places a statewide cap on the amount that a rental property owner may annually increase rent.

C.A.R. adopted an “Oppose unless Amended” position on AB1481 and AB1697 which prohibit a rental property owner from terminating a lease without just cause.

C.A.R. adopted an “Oppose unless Amended” position on AB36 which modifies the Costa- Hawkins Rental Housing Act.

C.A.R. supports SB521 which establishes a tax credit for rental property owners for dwellings or units that are rented or leased to persons receiving assistance under Section 8.

C.A.R. adopted a “Watch” position on AB1110 which heightens notice requirements for rental property owner of a residential dwelling with a month to month tenancy who increases the rent by more than 10%.

Legislative –

C.A.R. and N.A.R. oppose the new 14-day inspection period for HUD Section 8 housing.

C.A.R. will appoint a Rental Housing Legislative Advisory Group to provide expertise to C.A.R. on critical landlord-tenant issues arising during the remainder of 2019.

Land Use/Environmental –

C.A.R. opposes AB38 and SB182 which mandate fire hardening retrofits and a point of sale certification for housing.

C.A.R. supports AB1674 and AB1318 both of which expand the definition of “School facility” to allow the use of school bonds to construct on-site housing.

C.A.R. supports AB1516 for enhanced defensible space requirements, including a fuel reduction mandate within 5-30 feet and a non-combustible zone within 5 feet of the structure, and compliance inspections.

Transaction and Regulatory –

C.A.R. supports legislation which limits the problematic impacts of the CA Consumer Privacy Act and opposes legislation that would negatively impact the real estate industry as it relates to the CCPA.

C.A.R. supports AB1384 which increases the loan amount from $2,500,000 to $4,500,000 for specified construction and rehabilitation loans.

C.A.R. supports if amended AB1339 which involves mechanic’s lien priority, if the bill disallows a subcontractor form filing a mechanic’s lien when the general contractor has already been paid.

C.A.R. supports NAR’s mortgage finance reform proposal for Fannie Mae and Freddie Mac.

Federal –

C.A.R and N.A.R. join forces to support the Treasury Department or Federal Housing Finance Agency using Fannie Mae and Freddie Mac profits to build a capitol reserve fund.

C.A.R. in conjunction with NAR, support FHA loans with debt to income above 43% and credit scores below 620 being manually underwritten.