First-Time Home Buyer Savings Account out of committee, PACE hearing, bad historic tax credit bill.

By Sam LICKLIDER posted 02-02-2018 04:43 PM

  

As Adam reported HB 1796, first-time homebuyer savings account, is out of committee.  We will meet Monday, February 5th with Rep. Ruth and representatives of the Department of Revenue and Office of Administration to discuss the fiscal note on the amended bill. The amendment involved changing the maximum amount of all contributions for all tax years and the maximum total amount in the account.

There are two more steps before the bill can come to a vote before the entire House.

Next week the Senate PACE bill, SB 933 will be heard by the Senate Committee on Local Government and Elections.  The hearing will be on Tuesday, February 6 in the Senate Lounge, it begins at 10:00 AM.

Mo. REALTORS® position on the issue was adopted at the most recent Board of Directors meeting; it is reproduced below.

A motion was made seconded and approved to support efforts of energy-related improvements to real property by commercial and residential property owners alike. As programs develop to provide a mechanism for financing such improvements, Missouri REALTORS® supports strong consumer protection and safeguards all while ensuring mortgage markets remain secure.

The important parts of the position are found in the second sentence; we support strong consumer protection and safeguards while ensuring mortgage markets remain secure.

I know that PACE is somewhat controversial and that many have strong opinions on the issue, if you plan to attend the hearing I would appreciate it if you would let me know, you are free to testify on the issue either pro or con, but I’d like to know you are coming.  My email is sglgov@aol.com.

It is likely that there will be a Call for Action on Historic Tax credits, possibly as early as Monday. Senate Committee Substitute for Senate Bill 590 is out of committee and on the Calendar. Very brief high points. Aggregate cap is reduced from $140 million to $70 million; the credit is discretionary rather than an entitlement; the department of economic development (DED) would have authority to review every application and disapprove the credit if it does not meet their subjective standards; single family, owner-occupied residences would no longer be able to receive the credit; DED may charge a fee of up to 1 percent of the tax credit issued.

Bills on which we have taken a position are listed below. I’m trying something new, instead of having two sets Support and Oppose there is only one list, the position of the Association is found in the Track Code(s) line. Let me know if this is an improvement or if you want to go back to using two lists.

 

 

 

ALL BILLS WITH POSITION

02-02-2018

 

HB 1237  

Stacy, Dan(R)

Changes the laws regarding the low-income housing tax credit so that the program is capped at $50 million per year.

 

Track Code(s):

006 (Oppose)

 

Last Action:

1- 4-18 H Read second time

 

HB 1238  

Stacy, Dan(R)

Changes the laws regarding tax credits by placing a sunset clause on every credit.

 

Track Code(s):

006 (Oppose)

 

Last Action:

1- 4-18 H Read second time

 

HB 1239  

Stacy, Dan(R)

Changes the laws regarding the historical preservation tax credit.

 

Track Code(s):

006 (Oppose)

 

Last Action:

1- 4-18 H Read second time

 

HB 1251  

Plocher, Dean(R)

Changes the laws regarding foreclosure proceeds

 

Track Code(s):

006 (Support)

 

Last Action:

2- 5-18 H Set on the House Calendar

 

HB 1401  

DeGroot, Bruce(R)

Adds provisions relating to a claim for breach of implied warranty of habitability by a tenant of rental property

 

Track Code(s):

006 (Support)

 

Last Action:

1- 4-18 H Read second time

 

HB 1508  

Cross, Gary(R)

Provides that no person or entity that rents or leases real property shall be required to obtain a business license by any political subdivision.

 

Track Code(s):

006 (Support)

 

Last Action:

1- 4-18 H Read second time

 

HB 1509  

Cross, Gary(R)

Specifies that an individual who has been evicted from a rental property shall have written permission from the property owner to be on the premises.

 

Track Code(s):

006 (Support)

 

Last Action:

1-25-18 H Committee hearing cancelled House-Judiciary

 

HB 1510  

Cross, Gary(R)

Changes the laws regarding local ordinances so that no political subdivision may require interior inspections of private residences.

 

Track Code(s):

006 (Support)

 

Last Action:

1-11-18 H Referred to House Committee on House-General Laws

 

HB 1696  

Unsicker, Sarah(D)

Changes the laws regarding real property to require the filing of a certificate of value before transferring interest in real property.

 

Track Code(s):

006 (Oppose)

 

Last Action:

1- 4-18 H Read second time

 

HB 1737  

Merideth, Peter(D)

Specifies that the Secretary of State will create a website and allow citizens of Missouri to electronically sign ballot measures that are approved for circulation.

 

Track Code(s):

006 (Oppose)

 

Last Action:

1- 4-18 H Read second time

 

HB 1796  

Ruth, Becky(R)

Establishes the First-Time Home Buyer Savings Account Act and authorizes a tax deduction for contributions to a savings account dedicated to buying a first home.

 

Track Code(s):

006 (Support)

 

Last Action:

1-30-18 H Referred to House Committee on House-Rules-Legislative Oversight

 

HB 1825  

Grier, Derek(R)

Changes the law regarding the historic preservation tax credit by limiting its use to blighted areas and prohibiting its use on certain residential property.

 

Track Code(s):

006 (Oppose)

 

Last Action:

1- 4-18 H Read second time

 

HB 1880  

Trent, Curtis(R)

Declares the intent of the general assembly to facilitate and encourage development of fiber optic infrastructure by rural electric cooperatives.

 

Track Code(s):

006 (Support)

 

Last Action:

2- 5-18 H Set on the House Calendar

 

HB 1917  

Alferman, Justin(R)

Modifies provisions relating to the removal of a tenant from a commercial property.

 

Track Code(s):

006 (Support)

 

Last Action:

1- 4-18 H Read second time

 

HB 1954  

Smith-163, Cody(R)

Modifies provisions relating to real estate licensee immunity from liability.

 

Track Code(s):

006 (Support)

 

Last Action:

1-24-18 H Referred to House Committee on House-Professional Registration and Licensing

 

SB 581  

Libla, Doug(R)

Repeals provisions requiring a landlord to keep security deposits in a trust

 

Track Code(s):

006 (Support)

 

Last Action:

2- 5-18 S Set on the Senate Calendar

 

SB 590  

Hegeman, Dan(R)

Modifies the Historic Preservation Tax Credit and creates the Capitol Complex and Public Building Preservation tax credits

 

Track Code(s):

006 (Oppose)

 

Last Action:

2- 5-18 S Set on the Senate Calendar

 

SB 591  

Hegeman, Dan(R)

Implements a cap on the Low Income Housing Tax Credit

 

Track Code(s):

006 (Oppose)

 

Last Action:

1-30-18 S Voted do pass as substitute from committee on Senate-Small Business and Industry

 

SB 623  

Crawford, Sandy(R)

Modifies provisions relating to foreclosure proceeds

 

Track Code(s):

006 (Support)

 

Last Action:

2- 5-18 S Set on the Senate Calendar

 

SB 720  

Chappelle-Nadal, Maria(D)

Creates the Missouri Radon Awareness Act

 

Track Code(s):

006 (Oppose)

 

Last Action:

1-16-18 S Referred to Senate Committee on Senate-Commerce/Consumer Prot./Energy/Environ

 

SB 756  

Sater, David(R)

Modifies certain provisions relating to county recording fees

 

Track Code(s):

006 (Support)

 

Last Action:

1-16-18 S Referred to Senate Committee on Senate-Local Government and Elections

 

SB 820  

Cunningham, Mike(R)

Modifies provisions relating to broadband communications services provided by rural electric cooperatives

 

Track Code(s):

006 (Support)

 

Last Action:

1-18-18 S Referred to Senate Committee on Senate-Commerce/Consumer Prot./Energy/Environ

 

SB 887  

Rowden, Caleb(R)

Establishes the First-Time Home Buyer Savings Account Act and a corresponding income tax deduction

 

Track Code(s):

006 (Support)

 

Last Action:

1-22-18 S Referred to Senate Committee on Senate-Ways and Means

 

 

 All 

 

 Track 

 

Total Bills:

23

 

0

 

 

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Comments

02-09-2018 01:06 PM

Adam - after House Fiscal Review Committee what are the next steps/barriers for this to be instituted?

02-07-2018 02:26 PM

Our First-Time Homebuyer Act received another unanimous vote by House Rules - Legislative Oversight Committee. With a vote of 15 yays and 0 nays, the bill now heads to House Fiscal Review Committee. Stay tuned!

02-03-2018 10:24 AM

Thank you so much for the update.  It has been a busy week.