OAR's 2008 Tracking List

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UPDATE – Friday, June 27

STATE ISSUES

OFFICE OF STATE FINANCE TO LOSE DIRECTOR
The Office of State Finance is losing a director, but the State Regents for Higher Education is gaining an associate vice chancellor. Tony Hutchison will be joining the State Regents to begin work under the title associate vice chancellor of strategic planning and analysis. His work will include research on programs and resources necessary to move Oklahoma's system of higher education forward as well as study of a changing economy and workforce needs, he said. The State Regents unanimously approved his appointment Thursday. Hutchison officially took over the director's post in March 2007 when his appointment was approved by the Senate. Gov. Brad Henry named Hutchison to the position when the former director Claudia San Pedro left in November 2006 to join Sonic Corporation.

ETHICS COMMISSION TO REQUEST SUPPLEMENTAL FUNDING
After discussing a lawsuit and requesting a special session to address its funding needs, the Ethics Commission on Tuesday said it would consider a supplemental appropriation request at its July 11 meeting. The commission received a budget limit of $667,960 through HB2286, by Rep. Kenneth Miller, R-Edmond, and Sen. Mike Johnson, R-Kingfisher. The governor had line-item vetoed a section of the bill that would have required the commission to use $50,000 to purchase Federal Election Commission computer software. "The Ethics Commission cannot perform its constitutional mission with the inadequate appropriation provided thus far," said Chairman Don Bingham in a news release. "We will seek every remedy to see that Oklahomans are well represented in the year-round fight against ethics violations in state campaigns and public office."

STATE REGENTS APPROVE TUITION INCREASES
The Oklahoma State Regents for Higher Education on Thursday approved tuition and fee increases for Oklahoma's 25 public colleges and universities. On average, a full-time Oklahoma college student will pay $302 more next year for tuition, according to a State Regents' news release. "Even with the increases in tuition and fees, Oklahomans will still be paying less for a college education than their peers in other states," said Chancellor Glen Johnson Jr. "This increase will allow our institutions to continue providing a top quality education and outstanding service to our students."



FEDERAL ISSUES

SENATE TAKING ACTION ON HOUSING BILL
The U.S. Senate late last night approved parts of a housing bill that includes provisions to stabilize mortgage markets and reduce foreclosures. The House passed a similar bill in May. Some parts of the Senate housing package that weren't considered could be taken up imminently. NAR has issued a Call for Action on provisions of the bill that address FHA reform and GSE loan limits.

FHA WAIVES 90-DAY WAITING PERIOD
The Federal Housing Administration is lifting the mandatory 90-day waiting period it instituted in 2003 that delays the sale of REO properties. The waiting period, which never applied to properties sold by Fannie Mae, Freddie Mac, or state- and federally chartered financial institutions, was imposed to make flipping more difficult. But as the number of REO homes has grown, it has had the effect of flooding neighborhoods with properties. The change may help reduce the impact of foreclosures on some neighborhoods, but it won’t have as significant an impact as some might think, says Glen Daniels director of real estate-owned properties for Foreclosure.com. Many of the REO properties don’t meet FHA standards and will require rehabilitation before they can be sold to an FHA borrower, he points out.

HUD SECRETARY NAMES HORNE AS CHIEF OF STAFF
U.S. Department of Housing and Urban Development Secretary Steve Preston Wednesday announced David Horne will become chief of staff for the Department. Horne returns to the federal government after an extensive record in the public and private sector. Horne will oversee the day-to-day management of HUD's $40 billion budget and 9,300 employees throughout the nation.

Note: Due to the fourth of July holiday, the next update will appear on July 11. Happy 4th of July!

To view a complete list of all the legislation OAR is tracking, click here. If you have any questions or need further information, please contact OAR’s Director of Government & Public Affairs Charla Slabotsky at 405.848.9944, 800.375.9944 or Charla@OklahomaRealtors.com.