As the session roars on, it seems the legislature has finally reached some agreements on 2017 budget solvency. Although all the measures have yet to be acted on by Governor Martinez, it should be noted that the LEDA funding referenced in last week's Advocacy in Action was rescued through a line-item veto to its cuts.
The Governor vetoed the so called “Feed Bill” which pays for the legislative session and staff. She cited a $1.7 million increase in spending during what she called a “constitutional budget crisis”. Legislators will not get their per diem and staff will not be paid until this bill is signed.
HOA Act
Senator Mimi Stewart introduced SB 244 Homeowner Association Dispute Resolution. SB244 addresses some governance issues but also tries to “fix” the disclosure document pricing issue. Some HOA management firms have been charging exceptionally high rates for the service while HOA members have nowhere else to go. SB244 caps the rate at $400 and indexes the fee to inflation so it will always be going up. We will be watching this bill and offering amendments to make sure it works for consumers.
Home Inspector Licensing Act
No bills have been introduced at this time.
Defective Building Materials
SB14 introduced by Senator Bill Payne of Albuquerque would change the statute of repose to essentially say that a builder would be liable indefinitely if he “knew or should have known” of the use of defective materials.
Real Estate Auctioneer License Exemptions
SB125 introduced by Senator Pat Woods of Broadview, NM will exempt an auctioneer working under the control of a licensee from the licensure requirements.
Tax Lightening
No bills have been introduced at this time.
RANM and GAAR are tracking approximately 150 bills at this time. We will do our best to keep you up to date on bills that affect YOUR business. You can watch them too at https://www.nmlegis.gov/Legislation/Bill_Finder.
Stay abreast of legal advocacy issues important to GAAR REALTORS® by checking in to gaar.com/get-involved/advocacy. You can also sign up to receive national, state and local updates by clicking here to sign up for mobile alerts from the REALTOR® Party.
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