We just got done with Legislative Days down in Lincoln. The Nebraska REALTORS® Association holds meetings down there to discuss bills that would affect real estate. You may have heard of RPAC, which is the REALTORS® Political Action Committee, and they fight for the rights of REALTORS®. This is why they need your donations to keep your best interests in the minds of politicians.
We looked at 20 different bills, but I've got six here that I'd like to discuss.
- LB34 is going to require carbon monoxide detectors inside homes just like you have smoke alarms. This would obviously affect your purchase agreements in the future.
- LB253 is a big one that has to do with Notary provisions, and the hearing is coming up in a few weeks, so we're hoping that will pass this time.
- LB 372 has to do with First-Time Buyer Savings Plan. This is a unique idea and it is similar to a college savings plan. Joni Craighead, the Senator introducing this bill, is also on the Omaha Board of REALTORS®. This is a great idea that's being acted out in Virginia, where you can put $50,000 towards the cost of a new house.
- LB 375 has to deal with BPO's for tax assessments. This would allow REALTORS® to price homes for tax assessment purposes, which is currently prohibited under law.
- LB 397 is a $400,000 lead-based paint grant for the Omaha area.
- LB 406 will extend the Adverse Claim Possession from 10 to 20 years.
There are several other bills that we discussed, and some of them are also very interesting. I do encourage you to get involved with RPAC, and if you'd like to learn more about these issues I would also encourage you to contact me or my team. We're always pleased to serve you.
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