The staff and leadership at IAR keep a close eye on issues within Iowa that impact homeownership, property rights and the real estate industry. Our Legislative Committee meets weekly during the Iowa Legislative Session to review and discuss the latest topics and proposed legislative changes at the Iowa Capitol.
RECAP OF LEGISLATIVE ISSUES 2017
FIRST-TIME HOME BUYER SAVINGS ACCOUNT PROGRAM
IAR Staff and leadership have been working for over four years to create a program to help first-time homebuyers in the state of Iowa.
This program was passed and signed into law on May 9, 2017. This program will allow first-time homebuyers, their family and friends to save money to purchase a home in Iowa. This will be a state tax deduction. This program will function very similar to the 529 college savings plan. Read more about this very important accomplishment. We hope to have more details later this summer. It will go into effect January 1, 2018.
IOWA CODE CLEAN UP BILL
A bill was passed to clean up various part of the code as it pertains to real estate. This is a summary of House File 541. The bill was signed by the Governor and will be effective July 1, 2017.
Topics addressed in this Code Cleanup Bill.
- Removes ban for simple misdemeanor
- License law change – 3 violations in 3 years
- Civil penalties for non-licensees acting as real estate professionals
- Brokers manage more than 1 office
- Disclosures delivered electronically
- Agency disclosure now only with your client
Read full details