Accomplishments

Updated Bill Information

PASSED – HB 32 – An Act providing for the issuance of one business license for multiple lines of business; and providing for reissuance of a business license to correct a mistake on the license.

  • A letter of support for HB 32 was written and sent to Representative Mia Costello who is the primary sponsor of the legislation.
  • This bill was heard in House Finance on Monday, February 17, 2014 and was held for another hearing in order to obtain more information about the fiscal impacts.
  • AAR continues to support the passage of this legislation.

PASSED – HB 60 – An Act Adopting and relating to the Uniform Real Property Transfer on Death Act.

  • The committee is in support of this bill and it may get a committee hearing this session but it is not a priority for the sponsors, Rep Gruenberg and Munoz.

PASSED – HB 282 An Act relating to the rights and obligations of residential landlords and tenants; and relating to the taking of a permanent fund dividend for rent and damages owed to a residential landlord.

  • Property Managers were asked to review HB 282 and they agreed that changing the refund time allowed on the security deposit from 14 days to 30 days is important and should be included in the bill along with clarification on the carpet cleaning procedures.
  • Discussion took place about electronic signatures being binding for Property Management leases and notices. Brenda Hewitt, staff for Rep. Issacson indicated that Alaska Statute 09.80.040 covers this issue and it is not necessary to include in HB 282.
  • Wendy Chamberlain will check to see what the current statue requires regarding property management transaction notifications (verbal, email, written or posted notices).

Realtors® Applaud House Passage of “Housing Opportunity Through Modernization Act”

WASHINGTON (February 2, 2016) — The U.S. House of Representatives voted today to advance legislation that will expand opportunities for homeownership. H.R. 3700, the “Housing Opportunity Through Modernization Act,” includes a number of initiatives that have strong support from the National Association of Realtors®, who hailed the vote as important progress for home buyers and sellers.

“This legislation will put homeownership in reach for more families, and we applaud Congress’s work to take us there,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “We look forward to seeing it advance through the legislative process and to the President’s desk, so it can be signed into law.”

NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance. In particular, NAR championed the inclusion of reforms to current Federal Housing Administration restrictions on condominium financing.

Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.

These include efforts to make FHA’s recertification process “substantially less burdensome,” improving a process that is often costly and which condo developments must repeat every 24 months. H.R. 3700 also lowers FHA’s current owner-occupancy requirement from 50 percent to 35 percent and requires FHA to replace existing policy on transfer fees with the less-restrictive model already in place at the Federal Housing Finance Agency.

Additionally, the “Housing Opportunity Through Modernization Act” streamlines the process for exemptions to FHA’s rule requiring that condominium projects have no more than 25 percent of the space dedicated to commercial use. This effort is in line with the Department of Housing and Urban Development’s initiative to promote neighborhoods with a mix of residential housing, businesses and access to public transportation.

Finally, H.R. 3700 includes further support for rural housing loans and multifamily housing initiatives.

“There is tremendous demand for affordable housing, and H.R. 3700 offers fresh opportunities for creditworthy borrowers to become homeowners when they choose to,” said Salomone. “NAR thanks Congressman Blaine Luetkemeyer, R-Mo, for introducing the bill, as well as leaders in the House for making it a priority. We look forward to working with our partners at all levels to advance this legislation in support of homeownership.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Contact Information

Alaska Association of REALTORS®
4205 Minnesota Drive
Anchorage, Alaska 99503

Phone (907) 563-7133
FAX (907) 561-1779
Toll-Free (800) 478-3763

joinus@alaskarealtors.com