Capitol Connection – May 29, 2020
The Latest from NAR
Houses Passes Paycheck Protection Program Flexibility Act
Earlier this week, the U.S. House of Representatives passed the “Paycheck Protection Program Flexibility Act,” which makes several amendments to the CARES Act to make PPP loans more helpful to small businesses by increasing flexibility. The changes include:
- Extending the program sunset to December 31, 2020;
- Extending the length of time businesses can use the loans from 8 to 24 weeks, or until the end of the year (whichever is earlier) (note: businesses that have used it in 8 will not be penalized);
- Removal of the requirement that 75% of the loan go toward payroll costs;
- Makes PPP recipient businesses eligible for the delayed payment of employer payroll taxes in the CARES Act; and
- Creates an exception to the rehire requirement for employees that were let go due to COVID-19 if a business can show that they are unable to return to normal operations due to compliance with federal government rules or guidelines based on maintaining sanitation, social distancing, or worker/customer safety requirements related to COVID-19.
NAR sent a letter of support for the bill.
The Senate is expected to consider similar legislation next week, although there may be some differences in its legislation. NAR will continue to advocate for improvements to this program so it can be more responsive to the needs of small businesses and independent contractors during this crisis, and to ensure that the maximum number of them are able to reopen when it concludes.
As the PPP Flexibility Act moves through Congress and the federal agencies provide new guidance on the program, NAR will continue to update its resources for members on their SBA page.
Read the Latest on Common Ground: Retooling Communities in the Age of COVID-19
The latest On Common Ground covers the impacts of COVID on both our personal space and our shared public space, including ways localities are helping people to keep their housing, changes to public and private spaces, and strategies for small businesses to keep the doors open. An online version is available here.
5 Housing Market Trends as of April 2020
NAR’s April 2020 Realtors® Confidence Index (RCI) Survey shows the effect of coronavirus social distancing measures on the housing market. Find out what the five top trends are based on the data.
COVID-19 Status Update
Open Houses in Colorado
As additional businesses and services continue to open up on a limited scale across Colorado, a lot of you are asking, can I host an open house for property in my area? Based on the current statewide Safer at Home order, open houses are still not allowed in any Colorado community. Under 2.E (Field Services) the order states that real estate brokers may not hold open houses. The Safer at Home policy does provide guidance for allowable real estate showings (see the full Public Health Order 20-28).
We will continue to monitor and communicate with you about changes and/or additions to the executive orders in our state. In the meantime, if you have specific questions about your area, we encourage you to contact your local REALTOR® Association and your local government affairs teams for further definition on the restrictions in your area of the state.
For more information on the current Safer at Home policy and how it impacts REALTORS®, watch the most recent Legal Bites.
| Government Affairs Update |
Colorado General Assembly Complete First Week Back
Colorado’s General Assembly returned to the State Capitol on Tuesday; however, this time around, the environment was completely different. It is not business as usual. Temperature checks are required to enter the building and our state legislators now conduct their duties separated by plexiglass and social distancing requirements. In March, 350 bills were on the table and now, due to major budget constraints because of COVID-19 relief efforts ($3.3 billion less revenue), only a third remain. CAR continues to work to protect our industry and champion meaningful policy for Colorado REALTORS®. In the first week back:
The following bills have been Postponed Indefinitely:
- HB-1333 Homeowners’ Association Transparency Responsibility Competency (LPC Position: Amend) – Regulates HOA’s and would have prevented associations that provide documents affordably from continuing to do so.
- HB-1351 Local Government Authority Promote Affordable Housing Units (LPC Position: N/A) – Aims to provide affordable housing through inclusionary zoning practices that would open the door to rent control policies.
Passed out of the first Committee of Jurisdiction:
- HB-1200 Sunset Homeowners’ Association Information And Resource Center (LPC Position: Monitor) – Continues the HOA Information and Resource Center for 5 years, until 2025. On Wednesday, in the House Business Affairs and Labor Committee, the requirement to participate in administrative dispute resolution would have cost consumers millions of dollars and therefore, was removed from the bill and referred to the House Finance Committee.
- SB-096 Remote Notaries Protect Privacy (LPC Position: Support) – Allows a notary public to perform a remote notary using a real-time audio-video communication system that conforms to standards established by rules of the Secretary of State and protects consumer data meaningfully. On Wednesday, the bill passed the House Business Affairs and Labor Committee and referred with amendments to the House Appropriations Committee.
Headed to the Governor for signature:
- HB-1155 Higher Efficiency New Construction Residence (LPC Position: Amend) – Requires builders to offer new build homebuyers the options of adding solar panel system or a solar thermal system, prewire or preplumb the home for these systems, or a chase or conduit to wire or plumb the home for these systems in the future. CAR championed an amendment that requires the Dept. of Energy to educate consumers on the lease and purchase options for solar installation. CAR has been working on this issue for more than seven years and member testimony earlier this year helped move the amended bill forward.
CAR will continue to work on next year:
- SB-184 Add To Public School Financial Literacy Standards (LPC Position: Support) – Adds financial literacy to public high school education curriculum, including education on how to obtain a mortgage. The bill was postponed indefinitely on Tuesday due to COVID-19-related budget constraints.
Sign-up to Participate in Candidate Interviews
When: Tuesday, June 16 (10-11 a.m.)
The REALTOR® Party actively promotes the election of candidates who understand the vital role real estate plays in our economy, and who uphold and advance private property rights. The REALTOR® party speaks with one voice to advance candidates and public policies that build strong communities and promote a vibrant business environment.
Identifying REALTOR® Champions is a duty not to be taken lightly. CAR has developed a course to prepare you with the tools necessary to best conduct candidate interviews and evaluate campaign strategies on behalf of CAR. This course will prepare you with the knowledge of relevant real estate industry issues and CAR’s standing positions on policies. Upon completion of the course, you will be deemed a designated representative of your local association and called upon by CAR to conduct candidate interviews within your district.
Sign up today to represent your local association and community in the state’s candidate interview process.
The REALTORS® Political Action Committee (RPAC) is hard at work advocating for more than 1.4 million members across the country. Throughout this crisis, NAR and CAR have worked to ensure the interests and REALTORS® and their clients are protected.
As we continue to navigate this pandemic as a society, we are comforted knowing our industry is being protected. We will make it through these difficult times together.
Learn ways your local association can continue effective outreach and RPAC education or even host fun virtual events:
Watch the RPAC Virtual Events and Outreach Webinar
Download the RPAC Virtual Events Toolkit