News from HQ
IREM’s Federal Housing Advisory Board Meets with Policymakers in D.C.
Members of IREM’s Federal Housing Advisory Board (FHAB) traveled to Washington D.C. April 9-10 to meet with representatives of HUD and Rural Housing Service. This was the first of two FHAB meetings planned for this year to discuss a number of issues, including the 538 Program, Budget, Performance Based Contract Administration (PBCA), and Rental Assistance Demonstration (RAD).
Webinar Provides Insights into Opportunity Zone and Section 199A Programs
IREM hosted a free member webinar last month that provided an overview of the new Opportunity Zone program and the Section 199A deduction for pass-through entities. Proposed guidance from the Treasury Department for Opportunity Zones has been issued, and the regulations for the Section 199A deduction were recently finalized.
Delivered by Evan Liddiard, Director of Federal Tax Policy, and Erin Stackley, Senior Representative, Commercial Legislative Policy, of the National Association of REALTORS®, the webinar examined what questions the recently released rules answered and what issues are still outstanding.
For those unable to attend the webinar, a recording is available: Webinar recording *Login required
Also of interest, the Chicago Tribune also recently ran an article on opportunity zones that focused on how Chicago's underprivileged neighborhoods could benefit from investments in opportunity zones. . Full Article
IREM’s Ted Thurn Presents at Delaware Valley Chapter’s Legislative Luncheon
Ted Thurn, IREM Government Affairs Director, was one of several speakers at the IREM Delaware Valley Chapter’s Legislative Luncheon earlier this month. The event, titled How Will the Upcoming Laws Affect You, also included State Senator Andy Dinniman as a speaker. The Senator’s presentation addressed how every profession, including the property management profession, is facing change right now. He discussed how commercial or residential buildings being constructed now are very different from past construction because of the materials being used and the technology being incorporated into the buildings. The Senator urged that if property managers want to stay successful in the industry, they will need to keep up with these fast moving changes.
During Thurn’s presentation, he discussed some of the initiative and resources IREM Headquarters can provide to chapters, as well as the issues IREM is addressing this legislative session. Concerning IREM’s initiatives in 2019, he communicated about the recently successful Capitol Hill Fly-In and upcoming Congressional Briefing. IREM also is encouraging members to meet with their Congressmen at their In-District offices when federal legislators are back in their home state for the month of August. Thurn also communicated how members can review the federal and state bills IREM is tracking through our Bill Tracking system.
On the issues side, some of the major topics facing property managers in 2019 which Turn addressed were ADA lawsuit reform, marijuana legalization, and assistance animals.
Affordable Housing
Developers Continue To Grapple With How to Make Affordable Housing Work
National News
Illinois Rent Control bill fails to pass in Committee
Residential – Rent Control
Sawant Renews Push for Rent Control in Seattle
Residential – Rent Control
New York lawmakers vow to pass sweeping set of pro-tenant polices as they tackle rent regulations
Residential – Landlord/Tenant laws
Clarity Provided by Second Tranche of Treasury Regulations to Incent More Investment in Opportunity Zones Businesses (Part I)
Commercial – Qualified Opportunity Zones, Taxes
Facebook Engages in Housing Discrimination with Its Ad Practices, U.S. Says
Residential – Fair Housing
No Consensus on Harm to EB-5 Program Posed By Revised Regulation
Residential & Commercial – EB-5 Immigrant Investor Program
The Government Affairs Digest is distributed monthly to the IREM Executive Committee, Regional Vice Presidents, Chapter Presidents and Chapter Legislative Chairs, Legislative and Public Policy Committee, and the Federal Housing Advisory Board. Other IREM members who would like to receive the newsletter may opt-in at any time.
Opt-in Now
Past Issues