In addition to providing CAMP members with information about state and federal legislative and regulatory developments related to the industry, CAMP advocates for members at the state, federal and executive levels. CAMP's advocacy activities are lead by the Government Affairs Committee Chair and supported by Chapter Government Affairs Chairs through the state. All CAMP members are encouraged to participate in advocacy at the local, state, federal and executive levels.
CAMP Political Action Committee
Protect our industry and grow CAMP's political influence by contributing to CAMP's State and/or Federal PAC. Visit the CAMP PAC Webpage HERE.
2017 Legislative Update
AB 53 (Steinorth) – Personal Income Taxes: Deduction: Homeownership
CAMP Position: SUPPORT
Location: Assembly Appropriations Committee (Held on suspense)
Summary:
Amends the Personal Income Tax Law to allow a deduction for contributions to a homeownership savings account. Provides that a qualified taxpayer may withdraw amounts from a homeownership savings account to pay for qualified homeownership savings expenses. Provides that any amount withdrawn from that account that is not used for these expenses would be included as income for that taxpayer.
AB 71 (Chiu) – Taxes: Credits: Low-Income Housing
CAMP Position: OPPOSE UNLESS AMENDED
Location: Assembly Third Reading File (Urgency Measure)
Summary:
Increases, under the Insurance Taxation Law, the Personal Income Tax Law, and the Corporation Tax Law, the aggregate housing credit dollar amount that may be allocated among low-income housing projects and farmworker housing projects. Disallows a specified mortgage-related deduction under the Personal Income Tax Law. Provides for allowable credit amounts.
SB 2 (Atkins) – Building Homes and Jobs Act
CAMP Position: OPPOSE
Location: Assembly Housing and Community Development Committee (Urgency Measure)
Summary:
Enacts the Building Homes and Jobs Act. Imposes a fee to be paid at the time of the recording of every real estate instrument, paper, or notice. Provides for expenditures for affordable owner-occupied workforce housing, housing for purposes related to agricultural workers and their families, affordable housing, and other housing-related programs.
SB 173 (Dodd) – Real Estate: Bureau of Real Estate
CAMP Position: SUPPORT
Location: Assembly
Summary:
Removes the Bureau of Real Estate from the Department of Consumer Affairs and instead makes it a department within the Business, Consumer Services, and Housing Agency.
SB 434 (Galgiani) – Personal Income Taxes: Gross Income Exclusion: Mortgage
CAMP Position: SUPPORT
Location: Assembly
Summary:
Amends the Personal Income Tax Law, provides for modified conformity to the exclusion of the discharge of qualified principal residence indebtedness from an individuals income if that debt is discharged between certain dates. Conforms to that additional discharge a provision relating to specified written agreements and the federal extensions. Limits the amount excludable if the taxpayer is a married individual filing a separate return.
- CAMP worked hard on behalf of members to get clarification from the CA Bureau of Real Estate around how TRID impacts MLDS requirements. The BRE issued a statement on Mortgage Loan Disclosure Statement, which you can read here. The bottom line from the BRE: under TRID, the "Loan Estimate" replaces the MLDS and as long as it is signed by the borrower, it meets the requirements of law. Have questions? Contact the BRE: (916) 263-8941.
