This week, SB 2944, passed the
Senate Finance committee and passed the Senate with a reverse repealer. The law would simply clarify the definition of repairs in regard to taxation and it would make sure the statute matches what is already in regulation. Click here to see talking points on the bill.
This bill will likely go to the House Ways and Means for consideration. Once it is referred (and we get a timeline), HBAM will rally member support on the bill.
SB 2855- Licensure Bill (Support)
SB 2855, which is supported by HBAM, was assigned to House Judiciary B committee this week. The committee, led by Representative Andy Gipson, will likely consider the bill on Tuesday. As mentioned before, the bill does three things:
1. Contains subcontractor licensure requirements for HVAC, gas, plumbing mechanical and electrical work for safety purposes
2. Would require licensure for solar panel installation
3. Clarify licensure standards when filing lawsuits or seeking compensation for work
HB 1076- Growth and Prosperity Act (Close Monitor)
HB 1076, legislation that brings forward a number of statutes, including building code sections, was assigned to Senate Finance committee. As mentioned before, the alleged intent of the bill was to help with economic development under the current Growth and Prosperity Act Program (GAP). In its current status, HBAM is very concerned with the bill. HBAM will closely monitor this legislation and will continue to visit with key legislators.
HB 1601/SB 2439- First Time Home Buyers Savings Account (Support)
The Realtors Association introduced two bills (HB 1601 and SB 2439) that would set-up savings accounts for first-time home buyers to purchase their homes. The Senate version (SB 2439) died in committee but HB 1601 passed both the Ways and Means committee and the House chamber this week. The bill passed out of the House without any opposition. HBAM supports this legislation for first time home buyers. The bill should be referred to Senate committee early next week.
Click here to view the MS Realtor's fact sheet on the legislation.
SB 2938/HB 1587- Historic Preservation Tax Incentives for Single Family Homes- Dies in Committee (Support)
The legislation that would have added tax incentives to help foster the rehabilitation of historic structures for single family homes died in committee this week. This legislation will likely come back next year. The bill sponsors/supporters plan to gather information/research following the session to help legislators understand the impact of the bill.