National News
The month of December proved to be a rather busy one with numerous items being tended to around our nation’s capital.
The Federal Communications Commission voted 3-2 to scrap 2015 open internet rules. The move was opposed by NAR as it would be harmful to small business. The issue will now move to the courts, where several groups will challenge the FCC’s decision. Congress is also considering legislation that would codify the rules in law. You can read NAR’s press release here.
Meanwhile on the Hill, the conference committee on Tax Reform raced to find consensus between the House and Senate versions of tax reform. In the end, NAR maintained a neutral position on the product that came from the committee.
NAR President Elizabeth Mendenhall had this to say about the conference committee agreement:
“We remain concerned that the overall structure of this bill poses problems for homeowners and the broader housing market, but the conference committee has made some important improvements to the House and Senate legislation that ultimately will benefit some homeowners and communities. We are particularly pleased with the treatment of capital gains on the sale of a home and the preservation of deductions for second homes. We are also grateful that the positive changes for commercial real estate and real estate professionals from the Senate bill have survived.”
Congress will also be looking to prevent a government shutdown by passing a Continuing Resolution that will keep the federal government funded until January 19th. NAR will be monitoring this closely as the CR will also include a temporary extension of the National Flood Insurance Program as the Senate works on the final details of a 5-year extension.
State News
In Columbus, OAR continuous to work diligently on Home Inspectors legislation. However, the window to passing legislation in Columbus may be short as legislators have begun working on a Capital budget and will then be on recess before the 2018 elections.
Local News
Speaking of the Capital Budget, the City of Dayton has requested funds from the state to convert rail lines on the east side of the city to bike trails in a move that would add to the nation’s largest paved trail network and connect downtown to Kettering. The city has requested the Dayton Development Coalition to advocate on its behalf in Columbus. Dayton REALTORS® will be watching this closely. You can read about the development here.
