GLAR Capitol Connection: Protecting Your Business – Local, State, & Federal Updates

GLAR members, including our Board of Directors, KYR Delegates, Legislative Management Team, and the GLAR Leadership Institute Class joined other local Associations from around the Commonwealth to make your voices heard! We connected with multiple Constitutional Officers and members of the State House and Senate.

GLAR members spoke with over 20 Legislators that serve counties in our Association about top priorities including:

House Bill 88 – Consumer Protection Bill addressing 40-Year Listing Agreements,
House Bill 222 – Creating a First Time Home-Buyer’s Tax Savings Plan, and
Continuing to advocate that taxes are not placed on professional services (specifically real estate) during discussions on state tax rates.

Want to get involved or learn more about the 2024 Legislative Priorities? Reach out to Clancy Fulkerson at clancy@louisvillerealtors.com.

The GLAR team, comprising both leadership and staff, has diligently evaluated various bills and regulations to determine their potential effects on your business. We had the opportunity to examine the Louisville Mayor’s Affordable Housing Plan in advance and are currently involved in the review of Planning and Design, concentrating on middle housing and inventory expansion. We successfully organized an Economic Development Panel, featuring delegates from the Chamber and Economic Development Offices across Oldham County, Bullitt County, Nelson County, and Jeffersontown. We are excited about the prospect of providing more of these opportunities in the future.

A key legislative priority for 2024, House Bill 88, has already achieved unanimous approval in the House of Representatives and has progressed to the Senate Banking and Insurance Committee. Stay tuned for updates – your advocacy might be crucial in persuading State Legislators to vote in favor of this bill. Meanwhile, House Bill 222 is poised for committee assignment. Thanks to a grant from the National Association of REALTORS®, we commissioned a study by the University of Kentucky to analyze the potential impact of this legislation on the Commonwealth. The data in this study has been vital in showing the impact this could make for your buyers while having little 'bottom line' impact on the State's budget.

The National Association of REALTORS® (NAR) has formally addressed the U.S. Department of Labor (DOL) through two detailed letters, voicing concerns regarding the proposed changes in the Employee or Independent Contractor Classification under the Fair Labor Standards Act and its potential repercussions for real estate professionals. NAR is advocating for a postponement of the new rules' implementation until further clarifications are provided by the DOL. NAR is also seeking guidance tailored specifically to the real estate industry, which acknowledges the unique exemption for real estate agents under the Internal Revenue Code, as well as the state laws that dictate the classification of real estate professionals.

The REALTOR® Party is a powerful alliance of REALTORS® and REALTOR® Associations working to advance public policies and candidates that build strong communities, protect property interests, and promote a vibrant business environment.

GLARPAC, or the Greater Louisville Association of REALTORS® Political Action Committee, is dedicated to supporting our members. GLARPAC helps resolve issues that affect the real estate industry and impact your business through research, education, and advocacy. Your investment is vital to the success of these efforts.