NAR Legislative Updates

In case you missed it, NAR has a few legislative reminders:  Don’t Panic Over PRO Act  NAR is cautioning members not to panic over passage of the Protecting the Right to Organize (PRO) Act in the U.S. House of Representatives, a bill that could have broad implications for the independent contractor status of millions of Americans. Several recent opinion pieces in industry publications have incorrectly depicted the bill as nearing imminent passage in the Senate and becoming law with unfavorable terms for REALTORS®. “Our advocacy team has launched a vigorous effort to educate lawmakers on how indispensable the independent contractor classification is to our industry and ensure the bill doesn’t apply to REALTORS®.” Click here for more.

Paycheck Protection Program Update: The House passed a two-month extension of PPP through May 31, 2021 by a 415-3 vote on March 16. The bill is widely expected to pass the Senate by this coming Friday. NAR sent a letter to the Senate Finance Committee’s leadership last week thanking the Committee for hosting a hearing on PPP and urging the Senate to extend the deadline for PPP applications through May 31 (click here to read the letter).

Federal Eviction Moratorium Update: Recent media reports indicate there may be an extension of the CDC’s federal eviction moratorium through July in order to buy more time to get stimulus checks out the door and for states to get their emergency rental assistance programs up and running. Additionally, there may be two policy tweaks to the moratorium: a broader education campaign to make renters aware that the policy exists, and more involvement by the federal government in enforcing the moratorium against housing providers that don’t honor the policy. We will keep you posted!

Join #NARLegislative May 3-14 Register today for the virtual 2021 REALTORS® Legislative Meetings. It’s complimentary, but registration is required. Sign up for access to sessions and speakers focused on advancing issues important to REALTORS®, as well as valuable networking opportunities.