At the tail end of a week of meetings in Washington, D.C, Illinois REALTORS® gathered to share updates from a myriad of committee meetings.
Because NAR’s Midyear business meetings are so large, the state caucus provides a chance for brief committee updates on all aspects of the real estate industry. Illinois has a multitude o members who serve on committees.
- Pradeep Shukla talked about the Federal Taxation Committee’s concern about the fate of the 1031 Like-Kind Exchange and the Mortgage Interest Deduction.
- Piero Orsi talked about an emerging issue with solar panels. He said there have been an increasing number of cases where homebuyers are caught unaware by amounts owed on solar panels.
- Christopher Tenggren related that new tiers were going to be established for RPAC giving levels. The tiers will go up in $25,000 increments.
- Zeke Morris talked about the upcoming 50th anniversary of a commemoration of the Fair Housing Act.
- Michael Oldenettel: Discussed the fact that there were many intellectual property lawsuits stemming from photo usage.
- Gary Clayton: The new Bicentennial Plaza, a REALTOR® Community Partnership, will honor fair housing in the U.S.
The state caucus leads up to the Region 7 Caucus where REALTORS® from several states in the Midwest share reports. Pat Dalessandro of Illinois (and a former Illinois REALTORS® president) is Region 7 vice president.