L E G I S L AT I V E U P D AT E
Annual Hill Visits Go Virtual T
he National Association of Realtors® held its 2021 Realtors® Legislative Meetings, Home Front, virtually during the first two weeks of May. Over the course of the month, New Jersey Realtors® members, leadership team, and staff met with federal elected officials or their offices to discuss topics important to the real estate industry and homeownership. Although we miss being in-person for the annual Hill Visits, moving to a virtual platform allows us to meet with more offices and allows for higher Realtor® participation. Overall, we had 300 participants this year.
When we first went into lockdown last year due to the COVID-19 pandemic, it was the relationships like the ones fostered through Annual Hill Visits that helped the real estate industry stay open for business in New Jersey,” said 2021 New Jersey Realtors® President Jeff Jones. “Our connections and continued conversations with elected officials help keep the real estate industry, homeowners, and private property rights top of mind when representatives are voting for or crafting legislation.
This year New Jersey Realtors® had the opportunity to meet with the entire New Jersey Congressional Delegation. This includes the offices of Sen. Menendez, Sen. Booker, Rep. Norcross, Rep. Van Drew, Rep. Kim, Rep. Smith, Rep. Gottheimer, Rep. Pallone, Rep. Malinowski, Rep. Sires, Rep. Pascrell, Rep. Payne, Rep. Sherrill, and Rep. Watson Coleman.
2021 Hill Visits Agenda With limited time with each elected official or their staff, it’s vital to have key topics of interest to discuss. This year, we focused on topics that impact the Garden State’s real estate industry, homeowners, and private property rights. Here are some examples of issues we discussed. State and Local Taxes—New Jersey Realtors® believes measures to control and reduce property tax increases should be enacted.
N E W J E R S E Y L E G I S L AT I V E B I L L S
A5454 – Mazzeo (D2), Armato (D2)
A5495 – Quijano (D20)/S3788 – Weinberg (D37)
A5536 – Burzichelli (D3)/S3590 – Diegnan (D18)
Requires the installation and maintenance of video surveillance cameras in construction of new multiple dwellings and existing multiple dwellings undergoing substantial renovations in certain municipalities.
Establishes penalties on planned real estate development associations for failure to provide association members timely access to certain meeting minutes.
Allows formation of limited liability companies by real estate salespersons and broker-salespersons to receive commission income and requires certain disclosures on promotions.
New Jersey Realtors® Position:
MONITOR We are monitoring this bill as it currently only applies to multiple dwellings. Bill History: 3/15/2021 – Introduced in Assembly and referred to Assembly Housing Committee
8 | NEW JERSEY REALTOR® | July/August 2021
New Jersey Realtors® Position: New Jersey Realtors® Position:
SUPPORT We support this bill as way to increase transparency for homeowners in planned real estate communities so they have access to meeting materials to make them aware of decisions being made in their communities. Bill History: 3/17/2021 – Introduced in Assembly and referred to Assembly Housing Committee 5/20/2021 – Introduced in Senate and referred to Senate Community and Urban Affairs Committee
STRONG SUPPORT We strongly support this bill allowing for certain real estate licensees to be paid commission through an LLC in compliance with federal tax law and creating a higher threshold for certain promotional items so long as they are disclosed. Bill History: 3/25/2021 – Introduced in Senate and referred to Senate Community and Urban Affairs Committee 5/5/2021 – Introduced in Assembly and referred to Assembly Regulated Professions Committee 5/6/2021 – Reported from Senate Committee, 2nd reading in Senate 6/3/2021 – Passed by the Senate 38-0
