Mr. Meadows Goes to Washington
Posted by [email protected] on Apr. 6, 2020 / Subscribe 0
One of your IREM members benefits is an experienced advocacy team that advocates on legislative issues important to the Commercial and Multifamily Real Estate industries and the property management profession.
One of the ways IREM encourages grass roots activism is by sponsoring an annual Capitol Hill Fly-In in Washington DC. I was pleased to represent IREM Minnesota at this year’s event.
On Tuesday afternoon, March 10, 2020 IREM Advocacy invited IREM Members from around the country to join them at the beautiful NAR Headquarters, which has an amazing view of the United States Capitol. At that meeting, they explained to the legislative liaisons the pertinent policy positions for the advocacy items that they would like for us to discuss with our Congressional Representatives. While there are many issues that IREM advocates for on our behalf, the two that they wanted us to focus on this year were:
REAUTHORIZATION AND REFORM OF NFIP
The National Flood Insurance Program is a 30-year-old program that is set to expire on September 30, 2020. IREM supports the NFIP Reauthorization ACT which extends the program for 5 years. The program is a partnership among federal, state and local governments that helps mitigate flood risk and ensure the availability of flood insurance nationwide.
THE SECURE AND FAIR ENFORECEMENT (SAFE) BANKING ACT
In no event does IREM take a stance on the legalization of cannabis. Marijuana remains illegal at the federal level. But 33 states have passed legislation allowing the use of cannabis for either medical or recreational use. Because of the federal law, companies whose revenue is derived from the sale of cannabis are restricted from using FDIC insured banks, forcing them to operate on a cash only basis. If you accept a rent payment from a medical marijuana company in MN, deposit that at your bank, and then wire that rent payment to your client in TX, what federal law did you just break? Nobody really knows. As a result, IREM supports the SAFE Banking ACT, which allows cannabis business that operate in states where it is legal to be able to utilize the federal banking system just like every other small business in the country.
On Wednesday, March 11, 2020 throughout the day I had meetings with the following MN Representatives or staff from their Congressional office:
Senator Tina Smith
Congressman Tom Emmer
Senator Amy Klobuchar
Congresswoman Betty McCollum
Congressman Pet Stauber
Congresswoman Ilhan Omar
Congresswoman Angie Craig
I was able to meet with staff from each member of Minnesota’s legislative contingency except for Congressman Dean Philips. I was even able to squeeze in a meeting with staff from TX Senator John Cornyn’s office with an IREM Representative from San Antonio.
Our issues seemed to be very well received by each staff member or Representative we talked to. They understood our positions, were very gracious with their time, and promised to bring our issues forward to a satisfactory resolution.
On Thursday, March 12, 2020, in the most surreal start of what we now know as “Social Distancing” the Capitol was closed to everyone except congressional members and their staff.
Be safe everyone.
For more information on IREM Legislative Priorities please see this Fact Sheet.
Dennis Meadows, CPM is a Senior Property Manager at Cushman & Wakefield, and IREM Minnesota Past President and chair of tour chapter's Legislative Committee.
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