The NAR Hill Legislative meetings were held in Washington DC on May 15th thru 20th this year. The Ohio CCIM Chapter was again represented by Jerry Hall, CCIM. He was joined by central Ohio Realtors Steve Stivers, Joyce Beatty and Pat Tiberi. Together, this group met with Senator Rob Portman (Cincinnati) and Senator Sherrod Brown (Cleveland) as well as a majority of the elected members of Congress from Ohio.
The top three take-aways from these meetings:
1. The 1031 Tax Deferred Exchange is again a hot topic and could be eliminated in the new budget draft.
2. The National Flood Insurance Program will expire on 9/30/17 - NAR is working with regulators and Congress to prepare for this.
3. The ability to deduct interested associated with mortgage payments is potentially at risk as a part of the tax reform currently in process.
The Ohio CCIM Chapter thanks Jerry for his continued hard work as Chair of Legislative Committee for the chapter.