viding much needed regulatory oversight. The bill sets detailed minimum standards for AMC’s and clearly states that AMC’s shall instruct appraisers with whom they contract with to decline an appraisal in the event the appraiser is not geographically com- petent or the assignment falls outside the appraiser’s scope of practice restrictions.
GAR ENSURES PROPERTY RIGHTS REMAIN PARAMOUNT IN GUN BILL
After lengthy debates in both chambers, SB 308,
which expands where licensed concealed weapons can be carried in Georgia, received final passage. GAR was actively engaged in the negotiations on SB 308 along with the Georgia Chamber of Commerce and the business community. Our primary concerns were protecting private property owners’ ability to make their own determination as to whether guns are allowed on their property and limiting the poten- tial liability of property owners where guns are al- lowed. While the bill expands where firearms can be carried in Georgia, GAR successfully fought to in- clude language that allows property owners and lease holders to make the ultimate decision on whether firearms are allowed on their property.
PROPERTY TAX ASSESSMENT AND APPEAL REFORM
GAR continued work to bring uniformity to Geor-
gia’s property tax system by supporting SB 346. This bill provides many new protections for property owners and strengthens their right to appeal. With the passage of this bill every property owner will re- ceive a notice of current assessment every year, every notice will include an estimated annual tax, current use rather than future use of property will be used to determine a property’s valuation, fair market value will be determined using all available sales in- cluding distressed sales, the deadline for appeals has been extended and every property owner will be guaranteed the right to appeal. The bill was spon- sored by Senate Majority LeaderChip Rogers (Wood - stock) and carried in the House by Ways and Means Chairman Larry O’Neal (Bonaire). GARwould like to thank both leaders for their commitment to protect- ing property owners and reforming Georgia’s prop- erty tax system.
SAFE ACT COMPLIANCE Q & A
DOCUMENT AVAILABLE ON GAR WEB SITE The question has arisen whether a licensed real es-
tate practitioner can directly interact with a lending institution to facilitate a short sale or similar transac- tion. To clarify this question, GAR met with the Com- missioner and Deputy Commissioner of the Georgia Banking Department along with senior staff mem-
Understanding the need for clarification, the Bank-
ing Department agreed to work with GAR to de- velop a question and answer document in order to provide guidance to real estate professionals when questions arise about the SAFE Act and short sales. GAR and the Banking Department have approved a Q&A document which is now available on both par- ties’ Web sites. To ensure you are complying with the SAFE Act and the Georgia Residential Mort- gage Act, click here to view the following link on the GAR Web site.
http://www.garealtor.com/Governmental Affairs/CurrentIssues/QAonComplying withSAFEAct/tabid/503/
Default.aspx
You can access a full list of the bills debated in the
State and Local Governmental Affairs Committee on the GAR Web site under the “Governmental Affairs” tab on the home page. I would also like to invite you to participate in our deliberative process by attend- ing the State and Local Committee meetings. We meet every Monday during the General Assembly and all REALTORS
® are welcome.
Ernie Curtis of Fayetteville is the Chair of the 2010GAR State and Local Government Committee.
www.garealtor.com Georgia REALTOR®
bers of the Lt. Governor. After a very productive and cordial meeting, the Banking Department was clear that so long as real estate professionals are conduct- ing real estate brokerage activities and are present- ing offers or counteroffers to a lending institution on behalf of their client they are not in violation of the SAFE Act. However, pursuant to the Georgia Resi- dential Mortgage Act, real estate professionals are not permitted to negotiate the terms of mortgage loan involved in a short sale with a lending institution unless they are a licensed mortgage loan originator.
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