The Real Estate Administrator made a presentation in a legislative budget hearing late last month on the RED budget as proposed by Governor Sandoval, and what it means (among other things) is this:

• closure of all licensing activities in northern Nevada (i.e. less services to be provided to real estate licensees in both the north and the south);
• reductions in the Las Vegas compliance investigation staffing (i.e. less abilities to investigate violations of NRS 645);
• elimination and reduction of staffing for Real Estate Commission meetings and the elimination of at least one Real Estate Commission meeting (i.e. a greater length of time for approval of continuing education classes and handling of disciplinary matters).

SB227 presents a potential solution by allowing the RED to keep the fees it collects from licensees to operate, and ensure a certain level of service based on the number of licensees rather than on the Executive Budget.

While NVAR has not formally taken a position on this bill yet (the Legislative Management Team is set to discuss this bill on Monday morning), we can tell you that the NVAR Legislative Committee has been discussing the possibility of a self-funded RED for some time now.

Let's touch on another real estate bill, SB185. This bill mostly addresses common-interest communities (CICs, aka HOAs) provisions. The rest of the bill intends to restrict the use of private transfer fees (PTFs), and ensure disclosure of PTFs as part of the resale package. REALTORS® throughout the country have been supporting legislation to prohibit or strictly restrict PTFs, so we are watching this one closely.

Quick update about SB93, the military activities plan disclosure bill. You may remember we told you this bill had been brought back from last session. Senator Nolan was the original bill sponsor last time around - you may also remember that Senator Nolan is a real estate licensee... As you can imagine, it is harder to argue the sections we don't agree with in the bill when a real estate licensee not only supports it but actually came up with the bill. NVAR testified in opposition to SB93 this week. Amendments were proposed, but none addressed our concerns. We will continue to oppose the legislation.

As Harold Wilson once said: A week is a long time in politics... So watch for our update next Friday!

The State of Nevada Ombudsman has authorized  a class on the Financial issues in the CIC.  The class will  be taught by Commissioner Gary Lein, CPA.  It will be held at the Sun City MacDonald Ranch Community Association at 9:00 a.m.   (4-30-11)    Here is their address. 

2020 W. Horizon Ridge Parkway (I-215 East to Green Valley Parkway - South to Horizon Ridge - Left on Horizon Ridge and it will be on the left at the first light.  

Attendees will receive a certificate of attendance for trying to keep up to date with the regulations and the laws regarding their finances.  RSVP's would be nice, but not mandatory.  I hope to see a ton of you there.