Government Affairs Digest - October 2018

IREM Government Affairs Digest

ATTENTION: If you are a member of the IREM Executive Committee, Legislative and Public Policy Committee, a Regional Vice President, Chapter President or Chapter Legislative Chair, and will not continue in one of those roles in 2019, you will no longer receive this newsletter.

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News from HQ

Tuesday, Nov. 6th: Make Your Voice Heard – Don’t Forget to Vote!
With all 435 U.S. House seats and 35 U.S. Senate seats up for election next week, the outcome will undoubtedly have a lasting effect on the political landscape.

To learn more about the candidates on your ballot and where to vote, check out the IREM Civic Action Center.

Capitol Hill Fly-in to Return in 2019 – March 5-6

IREM is pleased to announce the return of the Capitol Hill Fly-in! This exciting event gives IREM Members an opportunity to meet with their federal legislators and advocate for issues critical to the real estate management industry. Sign up for more information

IREM Signs Letter Opposing Efforts to Undermine Supreme Court’s Online Sales Tax Decision

IREM Joined 53 other associations in signing on to a letter sent to U.S. Congressional offices urging them to push back against efforts to undermine the Supreme Court’s South Dakota v. Wayfair Inc. decision allowing states to collect sales tax on remote transactions. Full letter

NAR Urges Deduction for Rental Income

The Tax Cuts and Jobs Act includes a 20 percent deduction from the net business income of sole proprietors and owners of S corporations, partnerships, and limited liability companies.  The new deduction is intended to provide roughly the same tax rate cut the Act provided to regular corporations.  However, it is unclear whether owners of rental real estate will be able to claim the deduction. Full article


Member Contributions

IREM Federal Housing Advisory Board Meets in DC

By Eileen Wirth, CPM 2018 FHAB Chair
During the IREM Global Summit held in Hollywood, FL earlier this month , IREM’s Federal Housing Advisory Board (FHAB) met to solicit agenda items for meetings with the United States Department of Agriculture’s Rural Housing Service (RHS), as well as the U.S. Department of Housing and Urban Development’s Office of Multifamily Housing Programs and Office of Public and Indian Housing (PIH). Full article

How Changing Accounting Standards Will Impact Property Managers

Featuring Franziska Jackson, CPM
Under Accounting Standards Codification 842, companies will be required to report lease obligations on their financial balance sheets. If a company leases real property, like an office space or warehouse, then it will need to record its rental payments and the length of obligation as a financial liability on any records. Full article


Federally Assisted Housing

Affordable Housing Set For Spotlight of Next Presidential Campaign

Housing Authority of the City of Santa Barbara Announces New Section 8 Incentives for Landlords and Property Owners

National News

Illinois lawmakers push to lift rent control ban
Residential – Rent Control

California Tenants Take Rent Control Fight to the Ballot Box
Residential – Rent Control

Passengers All Evacuated After Woman Brings ‘Emotional Support Squirrel’ On Plane
Residential – Emotional Support Animals

Boise Appeals Ruling on When Cities Can Ban Sleeping on the Streets
Commercial & Residential – Right to Rest/Homelessness


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