Private Property Rights: We will evaluate proposals to amend existing laws pertaining to land use practices with regard to the private property rights of a landowner. We will oppose legislation that would allow unnecessary intrusions into private property rights.
Oppose Sales Tax on Services: REALTORS® will oppose any attempt to extend the sales tax to professional services. REALTORS® already pay income tax on their commissions. Requiring thousands of independent contractors in our industry to also collect and remit sales tax to the Tax Commission is nothing more than double taxation that will place a tremendous burden on our industry.
Legislation REALTORS® are supporting
S 1248 Real Estate License Law (by IREC): This legislation provides a process for the Commission to consider a license applicant's previous license revocation before issuing a new real estate license. It also codifies the current policy for review in these circumstances.
S 1251 Real Estate License Law (by IREC): covers a section of statute regulated by IREC, but outside of real estate license law, pertaining to how timeshares in other states are marketed in Idaho. The legislation updated the current code to reflect new national practices in this arena.
S 1323 Real Estate License Law (by IREC): puts in place a timeline of 30 days for the Commission to suspend a license for failure to submit proof of E&O insurance. The legislation also clarifies that credit hours used to activate an inactive license cannot be used toward subsequent renewals. It also expressly permits a licensee to obtain continuing education credit for attending a Commission meeting even if he is excused from a portion of the meeting. It clarifies that a licensee who buys or sells on his own account must make the required disclosure concerning his licensed status by the time he presents the purchase and sale agreement.
S1325 International Fire Code: Amends existing law relating to the International Fire Code to provide that counties may expand the exemption and to provide for notice and hearing. This legislation would provide a statewide exemption from the water supply and access requirements established by the International Fire Code concerning detached single family dwellings. Any local option reduction may be accomplished by ordinance following a public hearing including prior notice to all fire agencies serving affected areas in the county.
HB 533 Invasive Species: Amends existing law relating to Idaho invasive species (which raises money for the state’s efforts to keep invasive quagga and zebra mussels and other dangerous species out of the state’s waterways) to provide for the assessment of fees on boats, to revise fee provisions, to provide for replacement stickers, and to provide for stickers for those engaged in the manufacture and sale of vessels.
Rules Pursuant to the Idaho Residential Mortgage Practices (short sales): We are supportive of the rules brought forward by the Department of Finance. The new Act incorporates the standards of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (the S.A.F.E. Act), DOF is to adopting rules to establish consistency with the requirements of the new Act, and to interpret some of such requirements. There are some short sale “investors” who have expressed concerns about the rule, however the SAFE Act is federal law and there is no law that says an individual cannot buy a house in foreclosure and then sell it FSBO without being licensed by either DOF or IREC. The problem arises when they are doing one of two things.
1 – if they are finding buyers for properties they do not own (whether or not they have tried to transfer the title to themselves or a trust or something), that is the unlicensed practice of real estate.
2 – if they are contacting lenders on behalf of homeowners (with the expectation of compensation or gain and regardless of whether they have attempted to transfer the title), then they need to be licensed with DOF if they are not a licensed real estate agent.
Legislation REALTORS® are Opposing
HB 396 Tax Review Commission: Adds to existing law to create the Idaho Tax Review Commission, to provide for members and terms; and to provide that the Idaho Tax Review Commission shall review exemptions to the sales and use tax.
HB 454 Income Taxes: Amends existing law to delete the income tax on wages and salaries; to increase the rate of the sales tax; and to revise the revenue sharing formula to local units of government.
S1277 Income Tax Credits: Adds to existing law to provide for the expiration of income tax credits or deductions or sales tax exemptions unless extended by statute.