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Weekly Update: February 22, 2018

   We had an excellent meeting with Congressman David Young last Monday at the HBAI office – a very interesting dialogue and very much on track.  From the right counterclockwise – Congressman David Young, BUILDPAC Trustee Rich Fitch, Des Moines HBA Executive Officer Dan Knoup, Des Moines Habitat for Humanity Executive Director Lance Henning, Past HBAI President Keith Butz, and Iowa Prison Industries Director Dan Clark.

Capital Improvements and Home Equity Loans
In a victory for remodelers, the IRS issued a letter yesterday clarifying changes to home equity loans and lines of credit to confirm that households may take a tax deduction when these loans are used for home improvements.
The Tax Cuts and Jobs Act of 2017, enacted Dec. 22, suspends from 2018 until 2026 the deduction for interest paid on home equity loans and lines of credit, unless they are used to buy, build or substantially improve the taxpayer’s home that secures the loan, the letter said.  “This is a major victory for remodelers and for home owners who want to invest in their homes,” said NAHB chairman Randy Noel.
Total Housing Permits for 2017 Just In
This is pretty interesting, fresh data shows:

Total national single-family permits for 2017 were 817,300, up 10% from …
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Weekly Update: February 15, 2018


   These photos are all starting to look the same, but this legislative session has been a blur of non-stop meetings covering a wide variety of topics.  This is the first funnel week, so everyone is scrambling to clean up the giant volume of bills that everyone threw at the wall to see what would stick.  It should be a little more orderly from here on out.  HBAI has been successful in keeping our bills alive thus far, other than the “Right to Repair” bill, which has an uncertain future.  Mainly because there were so many organizations, including the State Attorney General, all attorney groups, and many unions against it.

Doug Mayo Memorial Golf Outing Registration Open
Let’s think about the nice weather that we’ll have next June 22 for the Fifth Annual Doug Mayo Memorial Golf Outing.  It will be a great time, as it always is.  The registration is open now, so gather up your foursome and sign up before it sells out.  Once again it will be at Copper Creek Golf Course and begins with a 10:00 a.m. shotgun start.  Click here to register.  There are plenty of opportunities for hole, beverage, and prize sponsorships too – so get …
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