Convenient and efficient transportation infrastructure enhances the quality of communities, supports property values, and mitigates traffic congestion effects that accompany growth. REALTORS® support improving mobility in communities so that all citizens have access to transportation means best suited to their needs. NAR believes in leveling the playing field with respect…...
TILA-RESPA Integrated Disclosure (TRID)
RESPA (Regulation X) TILA (Regulation Z) Harmonization (Know Before You Owe or TRID) – NAR supports a RESPA/TILA harmonization that adds transparency, simplifies disclosures, and reduces burdens to settlement service providers, including real estate professionals. NAR continues to work with the CFBP to ensure outstanding concerns with the rule are…...
Tax Deduction (State and Local)
NAR supports legislative efforts to reinstate the full deductibility of state and local taxes. At a minimum, NAR urges legislators to index the current $10,000 cap for state and local tax deductions to inflation and to remove the marriage penalty by increasing the deduction cap for joint returns to $20,000,…...
Tax Benefits for Property Ownership
NAR supports the enactment of a meaningful tax credit for homeownership for those who do not currently benefit from the mortgage interest and real property tax deductions because they no longer itemize their deductions. Tax changes enacted in 2017 reduced the previously available homeownership tax incentives to only about 10%…...
State-Legalized Cannabis Businesses Access to Banking
– NAR supports the rights of states and residents of those states to create laws aligned with their interests. NAR supports allowing businesses that are properly registered and that are legitimate by state standards to have the ability to access banking services. NAR does not have a position on cannabis…...
Section 1031 Like-Kind Exchange
NAR opposes any change that would undermine the deferral mechanisms associated with exchanges or lead to fewer transactions. The like-kind exchange technique is fundamental to the real estate investment sector. The current law provides investors with a great deal of flexibility in managing their real estate portfolio. Real estate is…...
Real Estate Settlement Procedures Act (RESPA)
RESPA (Regulation X) TILA (Regulation Z) Harmonization (Know Before You Owe or TRID) – NAR supports a RESPA/TILA harmonization that adds transparency, simplifies disclosures, and reduces burdens to settlement service providers, including real estate professionals. NAR continues to work with the CFBP to ensure outstanding concerns with the rule are…...