If you’re in real estate, politics is your business! GFWAR understands this and works to address the many legislative and political issues affecting its members on the local, state and national levels. Focusing its efforts on legislative issues, political affairs and raising money for the Texas Real Estate Political Action Committee (TREPAC), GFWAR is constantly working for its members to ensure the success of the real estate industry.

Legislative Issues
GFWAR monitors issues and informs the membership about legislative agendas that may require special attention from the REALTOR® community and works to mobilize members when needed.

Homebuyer Tax Credit Closing Deadline Extended
Congress has passed an extension of the Homebuyer Tax Credit closing deadline, the Homebuyer Assistance and Improvement Act (H.R. 5623). The extension applies only to transactions that have ratified contracts in place as of April 30, 2010 that have not yet closed. For more information, click here.

Flood Insurance Extensions Pass
The Senate recently passed the National Flood Insurance Program Extension Act of 2010 (H.R. 5569), an extension of the National Flood Insurance Program until September 30, 2010. The actions of the House are an important step toward enacting meaningful reform for the Flood Insurance Program and ending the uncertainty of stop-gap measures that have been keeping the program in place. For more information, click here.

State Agency Announces Delay in SAFE Act Seller Finance Provisions
Texas regulators delay implementation of SAFE Act related to seller financing. For more information, click here.

No 4.0% "Sales Tax" on Home Sales in Recently Enacted Health Reform Bill
Contrary to reports and newspaper articles circulating widely on the Internet, there is not a 4.0% "sales tax" or "transfer tax" on the sale of a home included in the recently signed health care reform bill. The analysis underlying these reports is incorrect and fails to take into account the interplay of the bill's provisions with already existing real estate tax laws that remain unchanged. For more information, click here.

Facts about the "Homeowners-Listen Up" E-mail
An email (subject: "Homeowners—Listen Up") is being re-circulated claiming that H.R. 2454: the American Clean Energy & Security Act would require an energy license / retrofits for home sale. The email is NOT accurate. For more information, click here.

Short Sales Guidelines Issued by Treasury Department
On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). For more information, click here.
 
Political Affairs
GFWAR endorses candidates based on their support for private property rights, homeownership, the real estate industry, and REALTOR® issues. Candidates are interviewed by GFWAR prior to determine their positions on these key values prior to any endorsement. Check here before the next election for a list of candidates that have been endorsed by GFWAR.
 
TREPAC
If you don't like new taxes...
...you're going to like new real estate taxes even less.
Every time our state is faced with a deficit, some Texas lawmakers look to the real estate industry to make up the difference. The last time, in 2003, legislators considered a new tax on services. It would extend the state sales tax to all services listed on HUD-1, including your commissions. This last session, more than 11 attempts were made to pass a real estate transfer tax. These transfer taxes raise the cost of purchasing homes, pricing some buyers out of the market. TREPAC dollars will help fight to keep taxes like these from becoming law.

Raising funds for TREPAC is a large part of the role GFWAR plays in its governmental endeavors. TREPAC is a voluntary, nonprofit organization that supports candidates for federal, state and local office who demonstrate the ideals for which the REALTOR® community stands. Funds are raised at the local level and dispersed through three separate political action committees, including:

• Fort Worth REALTORS® Political Action Committee (FORPAC) – local
• Texas Real Estate Political Action Committee (TREPAC) – state
• REALTORS® Political Action Committee (RPAC) – national

TREPAC Information

Spread the Word TREPAC