NAR Commercial Webinar –
Texas Commercial Webinar
March 21, 2017
Federal Issues Update
• Congress’s “to-do” list:
– 1. ACA repeal and replace
– 2. Tax reform
– 3. Infrastructure
• NAR priorities:
– Prevent harm (e.g., repeal of 1031)
– Maintain the good (e.g., NFIP)
– Relieve/improve burdens to CRE financing
Tax Reform?
• Republican Tax Blueprint (Summer 2016)
– Doesn’t mention 1031s
• Chairman Brady (R-TX) stated that they would start working on a
reform bill immediately in 2017…
– Working groups have been created, but unlikely to see any
proposals until later this Spring
– Will still have to compromise with Democrats to get a package
passed
• NAR Activities:
– 1031 Coalitions
– Economic studies, surveys
– Education efforts on the Hill
NFIP Reauthorization
• Expires September 30, 2017
• Currently ≈ $30 billion in debt
• NAR CRE proposals:
– Multi-year reauthorization, improved mapping
– Improved private market options
– Optional additional coverages
– Mitigation opportunities for CRE
Dodd-Frank and other Financial Reforms
• Dodd-Frank, Basel III…
• Dodd-Frank
– Full repeal? Unlikely, though it has its advocates
– More likely: reforms that make it more specific and better targeted
• E.g., QCRE Risk Retention rules
• Basel III: capital requirements
– HVCRE ADC capital requirements
Ongoing Legislative Issues
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Internet Sales Tax Fairness (Marketplace Fairness Act)
Marketplace Lending - JOBS Act II
ADA Reform bill
FAA UAS rules
EB-5 Visa Pilot Program reauthorization
Infrastructure spending
Regulatory reform generally
Questions?
Erin Stackley, Senior Policy Representative –
Commercial Issues
[email protected]
202-383-1150
https://www.nar.realtor/political-advocacy
https://www.nar.realtor/commercial/advocacy