RPAC Helps Protect Your Interests in Real Estate
RPAC contributions are given to candidates who support housing and real estate issues. RPAC strengthens the REALTORS® political advocacy program through grassroots activities, and federal, state and local lobbying efforts. Just look at some of our legislative and regulatory achievements:
Political Achievements in Montgomery county:
- Mandatory Home Energy Audits: GCAAR fought back mandatory home energy audits at the time of sale on a residential property - could have added an estimated cost of between $300 and $600 for an additional home energy inspection.
- Home Energy Loan Program: Worked with local councilmembers to help pass legislation called the Home Energy Loan Program (HELP) that will provide a voluntary program where homeowners can choose to do an energy audit and then receive funds through a low interest or no interest loan from the government or private lender to make the energy efficiency improvements. GCAAR strongly supported Bill 6-09 because the HELP program is a way for homeowners on a voluntary basis to take advantage of a cost-effective way for them to make energy efficiency improvements to their home.
- Recordation Tax-Indemnity Mortgages: In the 2009 Maryland Legislative session a bill was introduced in the Montgomery County Delegation that would have charged the guarantor of a loan for an indemnity mortgage (IDOT) a recordation tax, even though the guarantor is not the person primarily liable for the guaranteed loan. The bill sought to penalize the individual or entity that is willing to put up a form of real property as collateral, thus creating the IDOT. The bill was defeated when it failed within the Montgomery County Delegation.
Political Achievements in Maryland:
Political Achievements in the District:
- REALTOR® public policy advocacy efforts and testimonies before DC Council had a major influence on Vacant Property legislative outcome of benefit to our members.
- Achieved 6 for 6 in the general election candidate endorsements for DC Council and DC Mayor.
- REALTOR® public policy advocacy efforts and testimonies before DC Council had a major influence on restoring the Real Estate Guarantee Fund for FY 2011-2014. Almost $500,000 in the Real Estate Guarante Fund money was restored for Fiscal Year 2011-2014. Out of more than 65 budget line items of the budget that moved restricted funds into the unrestricted general fund the Real Estate Guarantee Fund was the only line item from Mayor Fenty’s budget that was removed by Vince Gray and the Council.
Political Achievements on the National Front:
- Passed broad-based capital gains tax reduction, including, a $500,000 capital gains exclusion on the sale of a principal residence. This stimulates the sale of homes by reducing transactional tax burdens, creating thousands of dollars in extra commissions.
- Defeated efforts to eliminate the Mortgage Interest Deduction, saving the average REALTOR® $7,350 in lost commissions.
- RPAC is working to keep big banks out of the real estate industry. REALTORS® across the country are voicing their opposition to a proposed rule by the U.S. Treasury and the Federal Reserve Board defining real estate brokerage as a financial activity.