In This Issue

H.272: Private Roads

H.565: Licensed Lender

S.28: Environmental Permitting
 
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April 18
Vermont Residential Building Energy Standards
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VAR Legislative Report: April 13
 
 H.272: Private Roads
VAR and other stakeholders who are proponents of H.272 are scheduled to meet with Governor Shumlin next Wednesday to discuss H.272. Governor Shumlin has expressed his opposition of H.272 after a 139-0 roll call vote in the House. 
 
Currently, Fannie Mae limits financing for prospective buyers who intend to reside on a private road without a signed maintenance agreement.  H.272, as amended, codifies existing common law based on a Supreme Court decision Hubbard v. Bolieau. This bill would create statutory provisions for those who reside on a private road and enjoy the common benefit of accessing the road. The maintenance of the road would be shared "ratably"  among residents. 
 
VAR Government Affairs is asking for your help!  If you have experienced challenges with financing due to issues associated with private roads, please submit your story toChris@vtrealtor.com no later than Tuesday, April 17.
 
Read H.272
 

On April 11th, 2012 H.565 unanimously passed in the Senate by voice vote without any amendments.

H.565 will enable property owners to sell to prospective buyers without conventional finance and secondary mortgage underwriting standards.  In 2009, the Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act was enacted to protect consumers from predatory lenders. This summer, the U.S. Department of Housing and Urban Development (HUD) released the final SAFE Act Rule, which would allow states to create legislation that would enable owner financing.

H.565 includes language which prohibits property owners from making a business of mortgage origination, but allows those to sell properties without a license to lend on a "non-habitual" basis.  This law will apply to all residential, commercial, and land transactions that choose to owner finance.

H.565 is slated to be signed into law by the Governor in the next couple of weeks. H.565 will take effect upon passage.

Read H.565

S.28, a bill that requires the Act 250 permit appeals process to be on the record for controversial cases and includes some refinements to party status has been approved by the Senate. A movement to on the record review at the Environmental Court will eliminate the need to essentially redo the hearing process that takes place at the Act 250 District Commissions. The House will work on refining the language and the House Natural Resources Committee has already begun taking testimony.

VAR supports on the record review for controversial cases that are likely to be appealed, but we do not support the changes to the party status provisions that would lower the bar for participating in the Act 250 process. VAR is working to ensure that the bill does not result in changes to party status that may result in frivolous interventions to delay proceedings. Environmental Court judges, Natural Resources Board staff and District Commissioners all testified that the bar is already low for people to participate in the process and pre-hearings at the District Commission level allow everyone to participate. VAR recommends using existing standards in federal and state law to determine party status.

Read Bill Status Summary
Read S.28 as introduced

VAR encourages members to get involved in the political process. The VAR Government Affairs team closely monitors legislation during the session, and conducts in-depth research on key issues throughout the year. If you are interested in giving testimony on an issue, we encourage you to contact the VAR Government Affairs team. We are here to provide you with the information and resources you need. 

Contact Chris MacDonald for more information.
Phone: (802) 229-0513
Email: chris@vtrealtor.com