Callan meets with Roskam at tax policy luncheon

U.S. Rep. Peter Roskam, left, talks with Illinois REALTOR® Pat Callan in Washington, D.C.

Illinois REALTOR® Pat Callan met with U.S. Rep. Peter Roskam in Washington, D.C. on Tuesday.

Callan, a former Illinois REALTORS® president who serves as federal political coordinator for Roskam, helped host a lunch the congressman attended at the D.C. headquarters of the National Association of REALTORS®. At the lunch, industry leaders discussed upcoming efforts to revise the nation’s tax code.

Federal political coordinators work closely with assigned congressional representatives to update them on market conditions and the impact of policy decisions on the real estate industry.

Roskam, serves as chairman of the House Ways and Means Subcommittee on Tax Policy, which will play a key role in any attempt at tax reform. He represents Illinois’ Sixth Congressional District.

REALTORS® have been especially wary of the tax code rewrite effort. Key provisions such as the Mortgage Interest Deduction and 1031 Like-Kind Exchange are seen as potentially vulnerable in the process.

Illinois REALTORS® have joined their colleagues throughout the country urging policymakers to consider the value of these provisions and others which encourage homeownership and real estate investment.

Wagner scheduled to appear on Market Overdrive Wednesday

Illinois REALTORS® Treasurer Dan Wagner, senior vice president of government relations for the Oak Brook-based Inland Real Estate Group of Companies, is scheduled to talk about 1031 like-kind exchanges on MarketOverdrive, which is available through its Facebook page, on Youtube and via podcast on WGN Radio.

He will appear during the real estate show, Market Overdrive, at 10 a.m.

 

 

Is your corporate license in danger of becoming inoperative?

Source: Bigstock

More than 450 real estate businesses have lapses in their corporate licenses, according to IDFPR. These licenses are currently in “non-renewed” status, and if they are not restored by July 31, they will become listed as “inoperative.” Inoperative status means a firm could no longer legally do business in the state.

Illinois REALTORS® will be sending email notices to the entities affected, but anyone who wants to check on license status can do so by following this link. If you do need to restore your entity license, you’ll have to fill out a form and send it with a check including late fees to IDFPR for license restoration (there is no online option). IDFPR can be reached at 888-473-4858 or call Illinois REALTORS® at 217-529-2600.

Note: If you don’t restore the entity license, all licenses sponsored by that entity rick unlicensed practice complaints.

Two honored posthumously for service to Illinois REALTOR® organizations

Two REALTOR® association executives were posthumously honored for their service to members with a top award for leadership.

Margery Shinners

Margery Shinners, who was CEO of the Mainstreet Organization of REALTORS®, and Deb Borgwald, who was association executive with the Danville Area Board of REALTORS®, were announced as recipients of the Rhino Award at a meeting of association leaders in St. Charles on Thursday.

Shinners died in April. Borgwald died in June. Both had contributed many years of service to their associations.

The Danville association has 81 REALTOR® members. Mainstreet has 16,453.

The announcement was made by Illinois REALTORS® CEO Gary L. Clayton who noted that despite the disparity in the organizations’ sizes, the commitment and passion to serve members was equal.

Deb Borgwald

Both Borgwald and Shinners have been honored with contributions to a fund administered by the Illinois Real Estate Educational Foundation to further training opportunities for women leading associations.

The Rhino Award is given annually to REALTORS® who show strength and loyalty — attributes of the award’s namesake animal — in their roles leading local REALTOR® associations.