Hearing on SB 887, Senate version of First Time Home-Buyers Savings Account, hearing on HB 1510 and brief report on PACE

By Sam LICKLIDER posted 02-09-2018 02:45 PM


More good news on the First-Time Homebuyers Savings Account bill, as Adam reported on Wednesday the bill was voted out of House-Rules Legislative Oversight.  Next step is to the Perfection Calendar.

On the Senate side SB 887, Sen. Caleb Rowden’s First-Time Homebuyers Savings Account legislation will be heard on February 13 before the Senate Committee on Ways and Means.  If you want to come the hearing begins at 8:15 AM in Senate Committee Room 1.

The Senate version of the PACE bill was heard in the Senate Committee on Local Government and Elections chaired by Sen. Dan Hegeman.  At the hearing, it was apparent that there is still much to be done before the legislation is ready for floor debate.  At least three PACE providers are operating in Missouri, and they each have different ideas of what should be in the legislation.  Additionally, there are the lenders who have real and reasonable concerns about the safety of their loan in the face of the PACE assessment that comes in ahead of the rights of the lender.  Finally, you have county officials tasked with collecting the PACE “assessment” who have several ideas of what ought to be in the legislation.  At this point in the process, Missouri REALTORS® position is firmly neutral as to the several bills but working with all parties to ensure they include reasonable consumer protection measures.

This coming Tuesday, February 13 the House Committee on General Laws will hear testimony on HB 1510. HB 1510 is Rep. Gary Cross’s bill that prohibits interior inspections of residential property without the consent of the lawful occupant. The location of the hearing is Hearing Room 5; the time is 5:00 pm or upon adjournment of the House, whichever is later.  I know there is a great deal of interest in this legislation, if you plan to attend and offer testimony would you please let us know. My email is sglgov@aol.com and Adam’s is Adam@morealtor.com

If you spent most of the week waiting for the Call for Action that didn’t come I apologize.  I had some incorrect information.  SB 590, major changes to the Historic Tax Credit program is about 12 bills down on the Perfection Calendar in the Senate, best estimate, assuming no more major filibusters would be week after next.  The CFA is written, just needs to be put in the system and sent.