Legislative Priorities

The Impact of REDISTRICTING

This year we will see significant changes in our local representation within the House and Senate due to term limits and redistricting. Many districts have been consolidated, causing incumbents to run against each other. As it pertains to the New Orleans Metropolitan Area:

Senator Julie Quinn, R-Metairie will not be running for re-election. As a result of redistricting, incumbents Cynthia Willard-Lewis, D-New Orleans, and J.P. Morrell, D-New Orleans will now have to face each other in an election due to the consolidation of the Senate District that mainly represents New Orleans East and Gentilly.

In the 105-member House, 11 members are term-limited including Nita Hutter, R-Slidell, Speaker of the House Jim Tucker, R-Terrytown; and Ernest Wooton, R-Belle Chasse. 

Those not running for re-election in the House are Reed Henderson, D-Chalmette; Walker Hines, R-New Orleans; Juan Lafonta, D-New Orleans; Nickie Monica, R-LaPlace and Ricky Templet, R-Gretna.  

Due to redistricting; incumbents Nick Lorusso, R-New Orleans, and John LaBruzzo, R-Metairie will run in the same district. Additionally, Charmaine Stiaes, D-New Orleans, and Wesley Bishop, D-New Orleans, will face each other in a newly-apportioned House district.

Qualifying is September 6th - 8th. Primary Elections are October 11th and General Elections are November 19th. Make sure that you are represented and VOTE! Not Registered? Click Here.   

2011 Regular Legislative Session Recap

With the help of the Louisiana Realtors and an active Government Affairs Committee, we faired well this legislative session. This year's legislative regular session ended Thursday, June 23rd. Being a fiscal year, all of the bills had a fiscal focus; with the exception of 5 non fiscal bills allowed per legislator.  

Our Government Affairs Committee had a productive Bill Review this year; reviewing hundreds of bills that had the potential to impact the real estate industry.  Our Government Affiars Department and Committee worked closely with the Louisiana Realtors, the NOMAR Board of Directors, MARPAC and our housing partners around the state to assure proper monitoring and favorable passage of legislation conducive to the practice of real estate this session.

One of the main bills we helped to pass this session was HB 135. A constituional amendment which will allow the "Prohibition of any new Real Estate Transfer Taxes".

This REALTOR® supported constitutional amendment prohibits local and state governments from imposing any new real estate transfer taxes on the sale or transfer of immovable property.  HB 135 passed the legislature unanimously and will now be placed on the November 19th ballot for Louisiana voters to weigh in on this issue.  NAR and LR have dedicated a large amount of resources to educate Louisiana voters on the importance of voting yes on this amendment.  It will be on the ballot November 19th. Our local boards has a task force working productively on this initiative. You can help to pormote this amendment as well! Sign up at the Transfer Tax website:  www.staytaxfree.com to receive updates and important information on our REALTOR® campaign.

We are extremly thankful to all of our NOMAR members that attended the 2011 REALTOR® Day at the State Capitol as well as those that communicated with their representatives about particular pieces of legislation this year. Your continued engagement is key to a successful legislative session.

Below is a grid of all of the bills we followed this session and their outcome. Please also see a recap of important real estate related legislation that was considered.

LEGISLATIVE ACTIVITY:

HB 227 (Act # 84) by Representative Major Thibaut (New Roads)
This new law will require condominium unit owner associations or management companies that represent these unit owner associations to carry a fidelity bond with a minimum of $10,000 coverage and or the lesser of 1,000,000 or the amount of reserves balances of the unit owners’ association plus one fourth of the aggregate annual assessment of the unit owners association. This bond will not only protect condominium unit owners, but will also fulfill a bank requirement that many lending institutions have put into place that require this bond to be in place before they will consider funding the loan.

HB 344 by Representative Nita Hutter (Chalmette)
HB 344, if signed by Governor Jindal, will provide for a grace period of ten days for condominium unit owners to pay late assessments.  HB 344 also requires the condominium association to provide the unit owners written or electronic notice detailing the amount of the assessment, the due date and that the assessment is due within ten days of the due date.

HB 602 (Act # 114) by Representative Frank Hoffmann (West Monroe)
This new law allows the Louisiana State Appraisal Board to collect an initial application fee and a renewal fee from all appraisal management companies doing business in Louisiana.  These fees will be used by the board to regulate and provide proper oversight over these appraisal management companies.  The board is authorized to collect these fees for two years.

SB 225 by Senator Willie Mount (Lake Charles)
This legislation that is awaiting the Governor’s signature and would help solve the problem of un-cancelled residential mortgages slowing down real estate transactions.  SB 225 reforms the protocols for cancellation of residential mortgages.  These new procedures apply only to mortgages recorded after 1/1/2012.  The legislation shortens the time period for responding to a request for cancellation.  It allows lenders & settlement agents the opportunity to cure prior requests to cancel within 15 days and establishes a statutory penalty of $500 if any legal action has to be brought to compel cancellation.  Existing law provides for a mortgagor to file an action for damages, attorneys’ fees & costs, if existing process is not properly followed. When a mortgagor requests cancellation and no settlement agent is involved, the lender will send the proper forms for cancellation to the mortgagor. Lender is allowed to charge a fee not to exceed $40 for these services, or $100 if no settlement agent is involved. Stakeholders will continue to work together to address issues relating to residential mortgages recorded prior to 1/1/2012.

SB 269 by Senator Neil Riser (Columbia)
SB 269 if signed into law by Governor Jindal, SB 269 will sunset the Louisiana Housing Finance Agency and replaces it with the Louisiana Housing Corporation.  This legislation seeks to streamline all housing entities and agencies under one roof for better consumer access and delivery of services. SB 269 also defines the duties and powers of the newly created corporation and how board members are appointed and what their qualifications must include.  SB 269 also defines low and moderate income based on HUDS current definitions.  The legislation also plans for a transition period between the current LHFA and the new housing corporation to ensure for a smooth consolidation.  The LR will be working with the Governor’s office and others involved to make sure that this process works well and that the end result is a better equipped corporation that can meet the needs of housing consumers.

A SPECIAL THANKS TO ALL REALTOR® MEMBERS THAT PROVIDED THEIR TIME, ENERGY AND VOLUNTARY FINANCIAL MARPAC CONTRIBUTIONS TO ENSURE THAT THE REAL ESTATE INDUSTRY REMAINS VIABLE!

If you have an interest in legislation and how it impacts your industry on the local and state levels, fill out an application to join the NOMAR Government Affairs Committee.

For questions, comments or concerns about the NOMAR Legislative Priorites, contact Letitia Clark George at (504) 274-0705 or letitia@nomar.org