Governmental Affairs

 Transfer Fee Covenants Banned in Illinois. The Transfer Fee Covenant Act, signed into law July 27, declares private transfer fee covenants invalid and against public policy.

President signs tax credit closing deadline extension. On July 2, President Obama signed HR 5623, the Homebuyers Assistance and Improvement Act of 2010. This bill extends the deadline for closing tax credit eligible transactions from June 30 to September 30, 2010. 

News from the State Capitol. Read the latest on action and bills of interest to Illinois REALTORS® in State Capitol Report published Fridays when the legislature is in session.

See what the the Illinois REALTORS® lobby day is all about. Check out this year's IAR Capitol Conference highlights when nearly 500 IAR members gathered in Springfield to meet with legislators and make the REALTOR® voice heard on issues important to the real estate industry.

Illinois REALTORS® in Washington, D.C. May 10-15
IAR led a delegation of Illinois REALTORS® at the nation's capital for the NAR Midyear Legislative meetings and meetings with members of Congress and government leaders on issues including FHA, commercial markets and mortgage market liquidity.

The rewrite of the Illinois Real Estate License Act of 2000 (Public Act 096-0856) took effect Dec. 31 , 2009. Get details from IARlicenselaw.org.

Support the Illinois REALTORS® Political Action Committee (RPAC) and ongoing efforts to ensure that the REALTOR® viewpoint is heard in all levels of government.

REALTORS® Renewing America: REALTORS® give back to their community every day in Illinois