Government Affairs Corner
Federal
NAR Applauds Settlement That Addresses Unequal Treatment of REOs
National Association of Realtors® President Leslie Rouda Smith issued the following statement after the National Fair Housing Alliance (NFHA) and a coalition of local fair housing organizations reached a $53 million agreement with Fannie Mae to compensate for unequal treatment of real estate owned (REO) properties in Black and Hispanic communities:
“Realtors® applaud this agreement. Fannie Mae coming to the table and agreeing to pay this restitution sends a clear message that the maintenance and marketing of foreclosed homes must be done fairly in all areas. Realtors® have played an increasingly important role in the market for maintaining and marketing REO properties, as bulk sales to investors decline. NAR is committed to supporting local communities and expanding opportunities for homeownership for all Americans, in accordance with our Code of Ethics and the Fair Housing Act.”
The fair housing coalition provided evidence that after the subprime crisis caused disproportionate numbers of foreclosures in Black and Latino communities, REOs in Black and Latino areas were allowed to fall into disrepair, while REOs in White neighborhoods were maintained. The case established that marketing and maintenance of REO properties is covered under the Fair Housing Act. It is likely to be followed by others against large lenders who maintained foreclosed properties in communities of color after the subprime crisis.
NAR Provides Comments to Congress on Health Insurance Affordability
This week, NAR provided comments to the Congressional Healthy Future Task Force Affordability Subcommittee regarding considerations for legislation to make health care more affordable. As health care costs continue to rise each year, affordability remains a primary concern for many Americans, especially self-employed real estate professionals facing limited insurance options in the individual or small group markets. In the letter, NAR advocated for a return to expanded association health plans (AHPs), which makes these insurance options available to sole proprietors, and support for innovative policy solutions that improve quality and affordability in insurance.
State
2022 Day on the Hill
2022 Day on the Hill was a success! Thank you to all who participated and met with legislators at the Capitol. Mark your calendars 2023 Day on the Hill will be Wednesday, Feb. 8th 2023.
On Monday, January 31st, Governor Bill Lee presented his State of the State Address. The theme was “Tennessee: America at is Best.” Governor Lee highlighted small government, infrastructure, strategic investments in education, public safety and healthcare. The Governor said his budget “is bold. It is balanced. Most importantly it doesn’t ask Tennesseans to pay one more penny in taxes.”
State of the State and Budget
K-12 Education:
· Committing to crafting an updated K-12 education funding formula.
· $750M recurring increase for new K-12 education funding formula.
· Since new formula will not commence until FY24, these funds will be utilized in FY23 for: CTE improvements in all high schools and middle schools($500M), moving all 14 public schools out of flood plains ($200M) and GIVE and SPARC grants ($50M).
· Proposing a new law that will ensure parents know what materials are available to students in their libraries.
· Proposing new legislation to make computer science and coding available to every high school student in Tennessee.
· $2.5M to expand the Future Workforce Initiative.
· Formalizing a partnership with Hillsdale College to expand their approach to civics education and K-12 education in Tennessee.
· $124.7M to provide a well-deserved increase into the teacher salary pool.
· $25.5M in recurring funding to continue successful summer learning camps.
· $16M recurring and $16M nonrecurring to the Charter Schools Facility Fund to increase the number of high-quality Charter Schools.
Higher Education:
· $90M to fully-fund the outcomes-based formula, enabling a zero percent tuition increase for public universities.
· $200M for TCAT infrastructure investments to help double the skilled workforce by 2026.
· $72M to complete the Oak Ridge Innovation Institute, a partnership with the University of Tennessee to invest in data science and technology, advanced materials, and outcomes-based applications.
· $6M to establish the Institute of American Civics at the University of Tennessee.
· $50M to a Carnegie R1 research fund at the University of Memphis, matched by private donors, to sustain the University’s R1 designation.
· $250M in infrastructure improvements at Tennessee State University to mitigate life-safety issues and help improve academic and student campus buildings.
· $170M to invest in a statewide Enterprise Resource System for the University of Tennessee and the Locally Governed Institutions, permitting more streamlined access to information aimed at better serving students in 21st century educational settings.
· $75.2M to increase the 4-year HOPE Award to $5,100 per student, per year, and the 2-year HOPE Award to $3,200 per student, per year.
· Four percent salary pool increase for higher education employees to ensure they attract and retain the best employee base possible.
Safe and Secure Tennessee:
· Adding 100 Highway Patrol Troopers, 20 Tennessee Bureau of Investigation Agents, and 25 Tennessee Bureau of Investigation Forensic Science Personnel..
· Directing the Department of Safety and Homeland Security to create a plan so every house of worship in Tennessee can receive high-quality safety training.
· $355.6M in a Multi-Agency Law Enforcement Training Academy.
· $28.4M to fully fund the Correctional Officer salary changes.
· $66M for the TN Law Enforcement Hiring, Training, and Recruitment program.
· $179M to complete full construction of Tennessee Advanced Communications Network coverage, ensuring full mobile connectivity across all Tennessee for emergency communications and law enforcement.
· $150 million to create the Violent Crime Intervention Grant Fund.
Rural Tennessee:
· $82M to reimburse public hospitals for uncompensated care, primarily in rural communities.
· $26M for Rural Opportunity Grants, helping to get communities ready for corporate investment.
· $55M to increase access to services across each of the Medicaid Pathways to Independence programs.
Healthy Tennessee:
· $25.5M to provide adult dental benefits for 610,000 Tennesseans eligible for TennCare.
· $11.8M toward a multiyear commitment to recruit and retain dental providers, as well as provide much-needed dental care for prosthodontic services.
· $18.6M to attract over 150 new primary care residents.
· $7M for substance abuse clinical treatment and addiction recovery programs.
Supporting Families:
· Expanding TennCare’s Health Starts Initiative to put an even greater emphasis on maternal health and holistic care for mothers and children.
· Expanding funding for relative caregiver placements for children in foster care.
· Establishing a childcare support program for all foster families, regardless of their DHS eligibility.
Infrastructure Modernization:
· $619M to accelerate projects listed in the IMPROVE Act and invest in transportation projects to ensure economic opportunity.
· $3.5M to support the Transportation Equity Fund.
· $4M to enhance litter cleanup on Tennessee highways.
Growing Tennessee:
· $103M for the FastTrack program, ensuring the Tennessee Department of Economic and Community Development has the tools to recruit and retain top companies to call Tennessee home.
· Formalizing a long-term strategy to develop the Clinch River Nuclear Site.
Beautiful Tennessee:
· $40M to invest in environmental cleanup, including National Priority List sites.
· $28M to eliminate the deferred maintenance backlog at State Parks.
· $25M for West TN River Basin projects.
Asset Management:
· $2.541B for higher education and general government capital improvements over the next several years
· $214.8M for capital maintenance, ensuring deferred maintenance is addressed within current capital assets.
Good Government:
· Developing the State of Tennessee Excess Property Strategy (STEPS) to eliminate excess state real property and reduce the costs associated with owning unneeded real estate.
· Reducing employee headcount at departments by five percent without making layoffs.
Important Dates
| January 17-21 |
Standing Committee Deliberations to Begin of redistricting plans.
|
| January 31 | Governor Lee’s Fourth State of the State Address |
| February 1 | Committee Budget Deliberations Begin. |
| February 2 | House Bill Filing Deadline |
| February 3 | Senate Bill Filing Deadline |
| Late March | Committee Closures Begin |
| Late March | Senate Floor Wednesday Sessions Resume |
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