Menu

May 2017 Government Affairs Update Archive

Government Affairs Update for May 25, 2017

Lobby Day brings hundreds of REALTORS to Albany
Hundreds of REALTORS came to Albany yesterday to ask their legislators to support the NY First Home bill and other initiatives vital to the industry, and Empire State home buyers and sellers. The more than 250 REALTORS participating in Lobby Day heard from NY First Home bill sponsor Assemblymember Michael Cusick before they met with their own representatives to discuss key REALTOR issues. Click here to watch a video recap of the day. 

New York REALTORS outline opposition to President Trump's tax plan
During Lobby Day 2017, REALTORS from across the state rallied at the Capitol in Albany to urge New York officials to oppose the plan in Washington to eliminate New Yorkers' ability to deduct state and local taxes from their income taxes.  According to NYSAR, the elimination of the deduction would wreak havoc on the state's housing industry, decrease home values and hurt people's ability to afford a house.  Click here for more about NYSAR’s opposition to the president’s proposal.  

NY First Home unanimously approved by Assembly Ways and Means Committee
On Tuesday, May 23, the NY First Home Proposal (A.5616), sponsored by Assemblymember Phil Ramos, advanced out of the Assembly Ways and Means Committee.  The proposal was unanimously approved with bi-partisan support with a vote of 33-0.  Click here to visit the NY First Home website to send an electronic letter to your state legislator urging their support.

Democrat Christine Pellegrino wins Long Island Assembly special election
On Tuesday, May 24, Democrat Christine Pellegrino defeated Republican Thomas Gargiulo in a Special Election held on Long Island. The Special Election for the 9th Assembly District came after former Assemblymember Joseph Saladino was appointed to Town of Oyster Bay Supervisor. Click here for more information on the election.  

Government Affairs Update for May 19, 2017

Only three days until NYSAR’s 2017 Lobby Day! 
There are only three days until NYSAR’s 2017 Lobby Day! Lobby Day will take place on Tuesday, May 23, at the Hilton Albany in Governor’s Rooms A and B. Registration will begin at 8 a.m. with a welcome address and remarks from Assemblymember and NY First Home sponsor Michael Cusick commencing at 9 a.m. Breakfast and lunch will be provided. For more information, please contact your local board or NYSAR Government Affairs staff at 518-463-0300 ext. 216 or govt@nysar.com. Click here for this year’s Lobby Day talking points and click here to watch a video about what you can expect at Lobby Day.  

NY First Home proposal secures 60 sponsors in the state Assembly
The NY First Home proposal (A.5616) has secured the support of 60 members of the New York State Assembly. The program, outlined in NYSAR’s 2017 Legislative Agenda and the focus of the 2017 Lobby Day, would allow individuals and couples to put aside money in a special savings account to be used only for upfront costs associated with purchasing a first home in New York State. Click here to visit the New York First Home website and to send an electronic letter to your state legislators urging their support.

NY REALTORS meet with NY Congressional Delegation
During NAR’s 2017 legislative meetings, NYSAR members met with their respective members of the U.S. House of Representatives. REALTORS were in D.C. to advocate against federal tax reform proposals that would do harm to the real estate industry and support the extension of the National Flood Insurance Program.  Sixty NYSAR members also met with Senator Kirsten Gillibrand and key housing and tax staff for Senator Charles Schumer.  

25 million Americans could stop using mortgage interest deduction under President Trump’s plan
According to a new property analysis by Trulia, a married couple would need a home-loan balance of about $608,000 - almost triple the mortgage on a median-priced U.S. home - before using the Mortgage Interest Deduction (MID) would make sense, thus rendering the MID impractical for some 25 million Americans. This comes as President Donald Trump has proposed rewriting the tax code to raise the standard federal deduction and eliminate the local property tax deduction while preserving the MID.Click here for more on this issue.

NYC homeowners billed for transfer taxes they already paid

Recently, some New York City homeowners received bills for real estate transfer taxes that had already been paid, following an administrative error at the New York City Department of Finance.  In one instance, a condominium owner in Queens was issued a $3,351 charge that had been paid in 2009.  A city spokesperson said that Tax and Finance will reimburse anyone who has made a duplicative payment and will void any incorrectly issued bills. Click here for more on this story. 

New home sizes continue to shrink
Americans seem to be more interested in smaller homes at the start of 2017 as the median and average square footage of new builds continues to decrease, according to the National Association of Home Builders.  Median single-family square floor area decreased to 2,389 square feet, according to first-quarter data from the Census and NAHB data. This is down from 2,440 square feet last quarter, and 2,465 square feet last year.  Click here for more on new home sizes.  

Government Affairs Update for May 12, 2017

NYSAR meets with Assemblymember Phil Ramos and key committee staff to advance NY First Home
Last week, NYSAR Government Affairs staff met with Assemblymember Phil Ramos, Assembly sponsor of the NY First Home proposal, as well as key staff from the state Assembly. The NY First Home program would allow individuals and couples to put aside money in a special savings account to be used for the upfront costs associated with purchasing a first home in New York State. Click here to visit the NY First Home website and to send an electronic letter to your state legislator urging their support for the proposal.

Less than two weeks until NYSAR’s 2017 Lobby Day!
There are now less than two weeks until NYSAR’s 2017 Lobby Day! Lobby Day will take place on Tuesday, May 23, at the Hilton Albany in Governor’s Rooms A and B. Registration will begin at 8 a.m. with a welcome address and remarks commencing at 9 a.m. Breakfast and lunch will be provided. For more information, please contact your local board or NYSAR Government Affairs staff at 518-463-0300 ext. 216 or govt@nysar.com. Click here for this year’s Lobby Day talking points.  

Replay: NAR Town Hall Webcast
Last week, NAR conducted a Town Hall Meeting for REALTORS who plan to attend the 2017 REALTORS Legislative Meetings & Trade Expo. During this live webcast, NAR Senior Vice President Jerry Giovaniello highlighted the issues REALTORS will present during meetings in Capitol Hill offices. NAR’s lobbyists were also available to answer questions from the audience. Click here for a replay of the live Town Hall Webcast. 

U.S. Senate Banking Committee looking to overhaul Fannie Mae and Freddie Mac
With backing from President Donald Trump, a bipartisan group of U.S. Senators is working behind the scenes to reform companies like Fannie Mae and Freddie Mac, which were put into government conservatorship in 2008. According to the Real Deal and the Wall Street Journal, the Senate Banking Committee is looking to reduce the government’s role in the $10 trillion mortgage market. Click here for more details.  

NYC Mayor De Blasio signs legislation requiring landlords to reveal building’s bedbug history to current tenants
On Wednesday, May, 10, New York City Mayor Bill de Blasio signed legislation requiring landlords to inform current residents of any bedbug infestations in their buildings through postings in the building or notices given to tenants with lease renewals. Landlords are already required to inform prospective tenants of the building’s history of bedbugs, but don’t have to inform current residents. Click here for more information on the new law. 

Government Affairs Update for May 5, 2017

Average 2017-18 school district tax levy increase is 1.48 percent
The average proposed school district tax levy increase in 2017-18 will be 1.48 percent, more than half a percentage point below the 2-percent property tax cap, according to a New York State School Boards Association analysis of school district property tax and budget data from the state Education Department. In addition, only 12 school districts will seek to override the cap on May 16, down from 32 last year. Click here for more information on the 2017-18 proposed school tax levy. 

State Senator Tony Avella drops out of NYC mayor’s race
On Thursday, May, 4, New York State Senator Tony Avella of Queens officially announced he is suspending his 2017 mayoral campaign.  With Avella dropping out from the race, the Sept. 12 Democratic primary will include Mayor Bill de Blasio and former New York City Councilmember Sal Albanese.  Republicans vying for mayor are Staten Island Assemblymember Nicole Malliotakis, businessman Paul Massey and former NFL football player Michel Faulkner. 

Register for the NAR Town Hall Webcast
On Wednesday, May 10, at 2 p.m., NAR will conduct a live Town Hall Meeting for REALTORS who are planning to attend the 2017 REALTORS Legislative Meetings & Trade Expo. NAR's Senior Vice President and Chief Lobbyist Jerry Giovaniello will be accompanied by NAR lobbyists highlighting the issues REALTORS are to present during meetings in Capitol Hill offices.  Click here to register for the NAR Town Hall Webcast.

NYS unveils plan to help recent college graduates purchase a home in one of 8 Upstate communities
On Wednesday, May 4, New York State Homes and Community Renewal in conjunction with the State of New York Mortgage Agency (SONYMA)  announced a plan to assist recent college graduates to purchase homes in Upstate New York.  The “Graduate to Homeownership” program will offer competitive, 30-year fixed interest rate mortgages to recent college graduates as well as down payment assistance.  The program is only applicable in the upstate communities of Glens Falls, Oswego, Geneva, Middletown, Oneonta, Plattsburgh, Elmira and Jamestown.  Click here for more information on the program.

NYSAR’s 2017 Lobby Day is Tuesday, May 23
NYSAR’s 2017 Lobby Day will take place on Tuesday, May 23, at the Hilton Albany in Governor’s Rooms A and B.  Registration will open at 8 a.m. with the welcome address and remarks commencing at 9 a.m.  Breakfast and lunch will be provided.  For more information, please contact NYSAR Government Affairs staff at 518-463-0300 Ext. 216 or email govt@nysar.com.  

Featured Content

RPAC of NY 2018 Fundraising

Advocacy~NYSAR-180x150
Government Affairs