Federal Issues & Legislation

Flood Insurance Update
Federal
The two top lawmakers on the House Financial Services Committee reached an agreement to extend the National Flood Insurance Program another four months, the 11th short-term extension of this financially troubled program in less than two years.
REALTORS® Legislative Meetings & Trade Expo Town Hall Webcast
Federal
Are you attending the 2019 REALTORS® Legislative Meetings & Trade Expo May 13th - 18th in Washington, DC? Register today for NAR's Town Hall Webcast. This live webcast will take place on Wednesday, May 8 at 2:00 PM Eastern.
What a Government Shutdown Means for REALTORS®
Federal
As of midnight on December 21, 2018, the President and Congress were unable to agree on the provisions of a Continuing Resolution (CR) to fund the federal government. As a result, a partial shutdown of some government operations has occurred. This partial shutdown includes some federal housing, mortgage, and other programs of interest to the real estate industry. A summary of the impact on selected agencies is provided below.
NAR Urges Deduction for Rental Income
Federal

The Tax Cuts and Jobs Act includes a 20 percent deduction from the net business income of sole proprietors and owners of S corporations, partnerships, and limited liability companies.  The new deduction is intended to provide roughly the same tax rate cut the Act provided to regular corporations.  However, it is unclear whether owners of rental real estate will be able to claim the deduction.

Labor Rule Allows for AHPs
Federal

The U.S Department of Labor (DOL) has finalized its long-awaited Association Health Plan (AHP) rule to expand the definition of "employer" to include "working owners." This change allows real estate professionals and other self-employed individuals to participate in association health plans. A key provision, forwarded for inclusion in the rule by NAR, will allow many REALTORS® who have access to coverage through a spouse to be eligible to choose an AHP option.

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