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Caucus:
a meeting of the members of a legislative body or registered voters who
are members of a particular political party, to select candidates or
decide
policy.
The
Iowa presidential caucuses are precinct meetings, Iowa has over 2,000
precincts, where registered Republicans and Democrats gather to discuss
and choose
a candidate for their party’s nomination. The caucus system is complex
but allows neighbors to publicly announce support for their candidate
and encourage others to join in that support. This website has a
detailed description of the 2016 Iowa Caucus and
candidates.
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Dear ,
Webinar: Exclusive
RPAC Training for FPCs
This
is a reminder that on January 27th
at 2pm EST, NAR will be hosting a webinar for all FPCs to brush up on RPAC
rules and regulations as we head into 2016 the election season. Please make it
a priority to participate. Vice President of RPAC Disbursements and Political Programs, Scott Reiter will lead the
discussion and be accompanied by Maggie Fitzgerald and Victoria Givens. Please
watch your email for a special update that will include a link to the webinar next
week or you can click below.
CLICK
HERE TO PARTICIPATE IN THE WEBINAR
May
Meeting Registration Opening Soon
Registration for May Meetings will be opening on Wednesday, February 17th. The lottery for housing is already open if you
would like to try and stay at one of the headquarter hotels. You can access
the lottery here. Be sure to register for the meetings early, especially if
you would like to secure a room in the FPC room block at The
Liaison Capitol Hill Hotel. You will be able to book a room within this block upon registration. Important dates to keep in mind as you make
your travel plans are the following:
May 10 - FPC Roundtable (1:30/2pm-3:30pm estimated
time)
May 11 - FPC Reception (6pm-9pm)
May 10/11 - FPC VIP Lounge (12pm-5pm (W) & 9am-5pm (TH))
More details on the basic conference agenda schedule
can be found here.
Congress
Discusses Flood Insurance
On January 7, 2016, the House of Representatives
held the first in a series of roundtables and hearings on the National Flood
Insurance Program (NFIP). As many of you know, the program must be reauthorized before September 30,
2017 in order to keep selling flood insurance. No legislation has been
introduced. Instead, the purpose of these hearings was to begin soliciting ideas for how
to restructure the NFIP with the goal of developing comprehensive reform
legislation before the end of the year. For more on this topic, click
here.
Read
NAR’s letter on NFIP reauthorization and private market reforms
Read
NAR’s letter on private market flood insurance
FIRPTA
Bill Takes First Step
The recently-enacted Protecting American Taxpayers
from Tax Hikes (PATH) Act includes two NAR-supported provisions affecting the
Foreign Investment in Real Property Tax Act (FIRPTA) that are estimated to
significantly boost foreign investment in U.S. commercial real estate. However,
as part of a package of tax changes to offset the cost of the two provisions,
Congress also included an increase in the FIRPTA withholding rate from 10% to
15%. But property acquired from foreign persons that is to be used as a
personal residence is exempt from the increase if the sales price does not
exceed $1 million.
For an in-depth, printable issue brief on FIRPTA and
its impact, click here.
Questions about the new law can be directed to:
Evan M. Liddiard, CPA (Senior Policy
Representative – Federal Taxation), NAR Government Affairs: eliddiard@realtors.org
202-383-1083.
Finley Maxson (Senior Counsel), NAR Legal
Department: fmaxson@realtors.org
312-329-8381.
FHFA Finalizes Home Loan Bank Rule
Last week, the Federal Housing Finance Agency (FHFA) finalized the Federal
Home Loan Bank (FHLB) Membership rule. NAR had written in support of an
expanded, ongoing mortgage asset test, however, FHFA determined that 98% of
FHLB members met the ongoing test and that implementation would be burdensome
to capture the other 2%. With this rule, banks can remain members of the FHLB
system without holding any mortgage related assets. For more details and a link
to the final rule, click
here.
Meritorious
Service Award Process and Deadline
This is a reminder that NAR is now
accepting nominations for the 2015 Meritorious Service Award. The deadline for submissions is Monday, February 22, 2016. Each
year, NAR recognizes two outstanding Federal Political Coordinators for their
exceptional service to the National Association of REALTORS® with
this esteemed award. These recipients will be the best of the best of our
FPCs, those who truly believe in and advocate on behalf of the REALTOR®
Party. Recipients
meet a rigorous set of criteria that set them apart from other FPCs. To
see a list of criteria for the MSA award click
here.
The
Meritorious Service Award nomination form can be accessed ONLINE through the REALTOR Action Center. For more information about the
MSA award and process, please contact Victoria Givens at vgivens@realtors.org.
FPC Spotlight
Congratulations to Mr. Ed Neaves, FPC for Illinois Congressman Rep. Adam Kinzinger, who was recently awarded the 2016 IL REALTORS Political
Involvement Award. Great work Ed! Mr. Dan Quinn, FPC for Rep Tom Cole (OK-4) also received a prestigious award and special recognition by the
president for his work with the association and their MLS. Thanks to you both for continuing to be stellar realtors and shining stars in our industry.
Sad news: In other news, I regret to inform you that one of your dear and esteemed colleagues, Mr. Jim Cockrill, longtime FPC for Rep. Pete Olson (TX-22) lost his battle with cancer earlier this month. He was a wonderful REALTOR and great friend to many. He will be missed.
**FPC Weekly Newsletters are now online!