The state Legislature gave final approval last week to a 2008-09 state budget that increases fees and taxes for New Yorkers by $1.5 billion, provides record spending for education and adds an additional $1.6 billion for economic development projects across the state including $200 million towards affordable housing initiatives. The budget, which holds Realtors® harmless, did not include any anti-Realtor® provisions.
Thanks to NYSAR's advocacy efforts at the Capitol, the $121.7 billion spending plan eliminated a number of anti-Realtor® proposals including mortgage recording fees and transfer fee increases. Also, there were no real estate license fee increases. The plan also includes $25 million in grants to provide legal assistance and counseling for homeowners facing foreclosure due to the unscrupulous practices of the mortgage industry.
There is still work to be done in Albany following the budget adoption. The association continues to push for a number of initiatives including commission protection, property tax relief, and barring all sex offenders from holding real estate licenses.
You are a vital part of our lobbying team, and there are several ways to become directly involved in the process to advance the New York Realtor® legislative agenda. Plan now to attend the annual NYSAR Lobby Day in Albany on Tuesday, June 10, to assist your peers in educating your elected representatives about Realtor® issues.
Additionally, as the session progresses, you will receive "Call for Action" e-mails asking you to contact your legislators in support of our collective efforts. Please take the few minutes required to respond. The collective voices of New York's 61,000 Realtor® creates a formidable force in Albany. By working together, we are able to accomplish much for our industry.
Your financial support of the REALTORS Political Action Committee is also vital to our collective success in Albany.
This article is from a special state budget report from NYSAR’s Government Affairs Department.
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