NAR Issues & Legal Updates

Published: June 13, 2007

<table width="507"><tbody><tr><td class="sectionheader"><span style="FONT-WEIGHT: bold; FONT-SIZE: 13px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #cc0000; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif">ISSUE UPDATES </b /></span></td></tr><!– Itemheader –><tr><td class="itemheader"><span style="FONT-WEIGHT: 900; FONT-SIZE: 14px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #003399; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif"><br /><b>NAR: Flood Insurance Bill Deserves Support But Needs Work </b></span></td></tr><!– Story –><tr><td class="blacktext" width="500">Expressing its support for protecting the integrity of the National Flood Insurance Program, NAR called for greater participation in the program by homeowners and communities, and expressed concerned over the potential negative impact of some elements of the legislation on the housing market, especially for families with low and moderate incomes. In testimony before the House Subcommittee on Housing and Community Opportunity today, NAR suggested that Congress develop a comprehensive approach to protecting homeowners, potential homebuyers, renters and business owners from the effects of future catastrophic natural disasters. H.R. 1682, The Flood Insurance Reform and Modernization Act of 2007, would maintain the partnership between local, state, and federal government and enable participating communities to purchase insurance as protection against flood losses in exchange for state and community floodplain management regulations that would reduce future flood damage. In exchange, the NFIP would make federally backed flood insurance available to homeowners, renters, and business owners. </td></tr><!– End of story –><!– Itemheader –><tr><td class="itemheader"><span style="FONT-WEIGHT: 900; FONT-SIZE: 14px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #003399; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif"><br /><b>Treasury Increases Health Savings Accounts Allowances </b></span></td></tr><!– Story –><tr><td class="blacktext" width="500">Individuals may put as much as $2,850, and families as much as $5,650, in health savings accounts this year, the U.S. Treasury Department says. In 2008, those amounts will increase to $2,900 and $5,800, respectively. During 2008, the underlying health insurance must have a minimum deductible of $1,000 and a maximum of $5,600 (individual) and $2,200 minimum and $11,200 maximum for a family. Health savings accounts are a tax-free way for the self-employed and those in small businesses, among others, to acquire health insurance. </td></tr><!– End of story –><!– Itemheader –><tr><td class="itemheader"><span style="FONT-WEIGHT: 900; FONT-SIZE: 14px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #003399; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif"><br /><b>Fire Sprinklers Remain Optional After ICC Vote </b></span></td></tr><!– Story –><tr><td class="blacktext" width="500"><p>Delegates to the International Code Council's (ICC) recent conference in Rochester, N.Y., voted down a proposal to require fire sprinklers in all new single-family construction. The result of the vote will be to keep the fire sprinkler provisions in the Appendix of the International Residential Code, which makes the provision a local jurisdictional choice. NAR is continuing to monitor this issue. </p><p><table width="507"><tbody><tr><td class="sectionheader"><span style="FONT-WEIGHT: bold; FONT-SIZE: 13px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #cc0000; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif">LEGAL </b /></span></td></tr><!– Itemheader –><tr><td class="itemheader"><span style="FONT-WEIGHT: 900; FONT-SIZE: 14px; MARGIN-BOTTOM: 3px; PADDING-BOTTOM: 3px; COLOR: #003399; PADDING-TOP: 3px; FONT-FAMILY: Arial, Helvetica, sans-serif"><br /><b>C.A.R. Lawsuit Against Antitrust Activist Proceeds </b></span></td></tr><!– Story –><tr><td class="blacktext" width="500">A lawsuit by the CALIFORNIA ASSOCIATION OF REALTORS® charging an antitrust activist of &quot;malicious prosecution&quot; against it could succeed on its merits, ruled The California Court of Appeal, Fourth Appellate District, affirming the trial court decision. With the ruling, the court rejected the activist's attempt to block the lawsuit from proceeding with a court hearing. Read a summary in <a title="http://go-to.realtor.org/h/CWICL/4VMLJ/SN/3FZEW" href="http://go-to.realtor.org/h/CWICL/4VMLJ/SN/3FZEW">The Letter of the Law.</a></td></tr></tbody></table></p></td></tr></tbody></table>


Last modified: June 13, 2007 at 7:44 am | Originally published: June 13, 2007 at 7:44 am
Printed: September 24, 2020