Why RPAC Matters
No one understands the power of community better than a REALTOR®. The voice of a community unites the unique perspectives of individuals into a powerful platform that can affect positive and lasting change. The REALTOR® Political Action Committee (RPAC) has succeeded in promoting and supporting pro-REALTOR® policies in the United States since 1969.
Speak out. RPAC is a way for all real estate professionals to make their voice heard in local, statewide and federal issues that impact their business and the real estate industry.
Support your industry. Whether exposing and tackling issues that could negatively affect the real estate industry, monitoring hot topics as they develop, or conducting in-depth research on bills and proposals, RPAC takes an active role in legislation. Voluntary investments from people like you go towards identifying and assisting candidates who care about real estate issues. From federal elections to the thousands of bills introduced in each session of Colorado state legislature, RPAC is there defending the future of your business. In partnership with DMAR, RPAC enables members to support candidates that protect private property rights, promote and defend homeownership, work for tax reforms and reduce burdensome regulations on your business.
Invest in your business. DMAR's passion for advocacy is demonstrated in members' level of generosity and devotion to RPAC and all it supports. In 2014, DMAR became the first association in Colorado history to ever surpass $100K in RPAC investments and in 2015, we smashed our state and national goal of $130K by ultimately raising just shy of $150K (that's a 200% increase from our RPAC totals in 2013!)! We encourage every DMAR member to invest in RPAC and help create real impact in our industry. Take action & convince yourself of the powerful effect of a united REALTOR® voice.
What has RPAC Done for Me Lately?
First-time Homebuyers Savings Account
► CAR championed legislation that creates first-time homebuyer savings accounts, and starting January 2017, allows an income tax deduction for account holders on the interest earned on the accounts. A First-time Homebuyer Savings Account (FHSA) allows any Coloradan to set aside up to $50,000 toward the costs of purchasing a new home.
► The earnings on those funds — interest and capital gains — are free from Colorado state taxes forever. FHSAs are a great way for future homeowners to start saving early for the costs of buying a home. These accounts will be simple and easy to set up. Not only can you open a new one, you can also transfer money from one existing savings account to a FHSA.
► To create an FHSA, a consumer simply includes a form (promulgated by the Department of Revenue) when they file their state taxes designating the qualified beneficiary. A qualified beneficiary can be a child or grandchild, or the account holder may designate himself or herself as the qualified beneficiary.
► The qualifying beneficiary of the account must have never owned a single-family, owner-occupied residence (including a condo, manufactured home or mobile home), or must have been off of the title for such a residence for at least three years due to the dissolution of marriage. The beneficiary may be changed at any time and there is a caveat for active duty military that may be transferred and purchase a home outside the state.
Status: Signed by the Governor For additional information, click here.