Published: August 21, 2007

<strong><br /><br />C.A.R. SPONSORED BILL UPDATES</strong><br /><br /><strong>C.A.R Sponsored Bill AB 980 (Calderon) Disclosure of Already Imposed Private Transfer Taxes</strong>, is eligible to be heard on the Senate Floor. This bill will require that a stand alone document on the private transfer tax (PTT) be recorded to become part of the title record as well as a separate disclosure to potential home buyers as to whether the home they are considering purchasing requires the payment of a private transfer tax, the percentage of the home price constituting the PTT, the duration of the payment obligation, and the recipient of the PTT payment. If the stand alone PTT document is not recorded, the new home buyer will not have to pay the PTT. Finally, the bill has been amended to provide a second seller disclosure to a prospective home buyer of the amount of the PTT based on the asking price.<br /><br /><strong>C.A.R. Sponsored Bill SB 226 (Negrete McLeod) &quot;Degree Broker&quot; Requirements,</strong> is eligible to be heard on the Assembly Floor. Existing law requires most applicants for a brokers license, in addition to exam passage, demonstrate a valid salespersons license and two years experience in general real estate. Current law also provides that the Real Estate Commissioner may grant a license to an applicant without real estate experience who has a degree from a 4-year college or university with a &quot;specialization in real estate.&quot; SB 226 will clarify that rule to require that the degree include a major or minor in real estate before the applicant could be granted an experience exemption. This bill will not change the other mechanisms for demonstrating equivalency such as a petition by a licensee from another state for recognition of his or her experience. Additionally, SB 226 was recently amended to empower the Commissioner to require a licensee to display his or her license number on &quot;consumer first contact materials&quot; which include: business cards, stationary, advertising fliers, and other materials designed to solicit a professional relationship. However, the additional authority may not be used to require license numbers on &quot;for sale&quot; signs or advertisements that appear either in print or electronic media.<br /><br /><strong>C.A.R. Sponsored Bill SB 343 (Negrete McLeod) Housing Project Application: Pre-Hearing Availability of Staff Reports,</strong> is eligible to be heard on the Assembly Floor. Many local governments direct their staff to prepare reports concerning issues pending before a city council, local board or commission. Current law does not require that these reports be made available to an &quot;applicant,&quot; or the public, in advance of a hearing or meeting where the application or request for action is scheduled to be reviewed by the local legislative body, except by specific request. SB 343 amends the Brown Act to require any writing that qualifies as a public document, which is provided to at least a majority of the members of a local legislative body within 72 hours of a noticed open public meeting, to also be made available to the public at a designated location of the local agency at the same time, as well as by way of the internet, if such capacity exists.

Last modified: August 21, 2007 at 3:15 pm | Originally published: August 21, 2007 at 3:15 pm
Printed: September 26, 2020