The scoop on the Realtor legislative agenda’s progress: Capitol Connections #7

Things are looking good for the Realtor® Legislative Agenda as it makes its way through both chambers of the Virginia General Assembly. Read all about it in today’s Capitol Connections newsletter.

VAR bills that have passed both houses:

  • Signs bill (SB64): Permits local governing bodies to adopt ordinances to control and enforce signage regulation in public highway rights of way. The locality may treat a violation of its sign control ordinance as a zoning violation and impose a penalty that it may then retain. Volunteers who confiscate legally-placed signs will be held accountable. The term excavate is amended so installing a sign by pushing metal, plastic, or wooden poles is not deemed excavation, and a call to Miss Utility is not required.
  • Amnesty for honesty (HB963): Real estate brokers who self-report violations of VREB regulations, or who report their agents’ violations of the regulations, will be protected from sanctions, as long as the broker was not willfully or grossly negligent. Requires out-of-state licensees to take the state portion of the licensing exam before they are granted a license through reciprocity.
  • Interpleader bill (HB231): Changes the process that allows brokers to file an interpleader in General District Court. The effect is that it will take less time and money for brokers to have a judge to determine the appropriate party in a deposit dispute.
  • 1031 exchange agents (HB417): Creates protections for consumers who participate in 1031 real estate exchanges by clarifying requirements and prohibitions for 1031 exchange facilitators.

Other VAR bills are in progress. Read today’s Capitol Connections for full details.

Index of all previous issues of Capitol Connections for the 2010 General Assembly session.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *