Published: March 6, 2007

<br />C.A.R. is sponsoring several bills in the 2007 state legislative session, which will address important issues facing REALTORS® in the public policy arena. One of these issues is the disturbing new trend of "private transfer taxes" or PTT's. C.A.R.-sponsored AB 980 (Calderon) Disclosure of Pre-Existing Private Transfer Taxes, will require a separate disclosure to potential home buyers as to whether the home they are considering purchasing requires the payment of a private transfer tax (PTT), and other information pertaining to a PTT. SB 670 (Correa) Private Transfer Tax Prohibition, will implement the recommendation of the C.A.R. Private Transfer Taxes Task Force and prohibit the imposition of such transfer fees.<br />
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Other C.A.R.-sponsored bills include AB 1356 (Houston) Agents of Equity Purchasers, which will allow agents representing investor purchasers of properties that are in foreclosure alternate means of demonstrating financial responsibility. AB 1366 (Portantino) Housing Impact Statement Requirement for Local Land Use Decisions, is intended to be a vehicle to generate the exchange of ideas related to positive regional housing decision-making by local agencies throughout the State. SB 226 (Negrete McLeod) "Degree Broker" Education Requirements, is intended achieve clarification of the "specialization in real estate" requirement for the "degree broker" exception to experience requirements. SB 343 (Negrete McLeod) Housing Project Application; Pre-Hearing Availability of Staff Reports, amends the Brown Act to provide that no action or discussion by a local legislative body on an item listed on its agenda be undertaken unless the analysis related to the agenda item, prepared by a local agency or local legislative body employee, has been made available to the public no later than the date the agency posts the agenda for availability to the public.<br />

Last modified: March 6, 2007 at 10:19 am | Originally published: March 6, 2007 at 10:19 am
Printed: September 22, 2020