APARTMENT ADVOCATE
NATIONAL APARTMENT ASSOCIATION / NATIONAL MULTIFAMILY HOUSING COUNCIL
DOL Overtime Rule Blocked by Texas Judge
On Nov. 22, a Texas federal judge blocked the Department of Labor overtime rule that would make more than 4 million private-sector workers eligible for extra pay.
U. S. District Judge, Amos Mazzant, imposed a preliminary injunction against the rule at the request of 21 states, the U. S. Chamber of Commerce and other business groups. While the rule was set to take effect Dec. 1, the injunction preserves the status quo. The Court will now adjudicate the rule ' s validity.
Separate from litigation, Congressional Republicans are keen to overturn the rule legislatively. Although President Obama would likely veto any such effort, President-elect Trump could look more favorably on such an approach when he takes office in January. President-elect Trump last August said he favored exempting small businesses from the rule. Absent legislative action, the Trump Administration could also propose a new rule. The Trump team has made clear that rolling
back regulations that increase burdens on job creators is a top priority.
NAA / NMHC strongly favor repealing the current rule and support all avenues to achieving that objective.
“ Lame Duck” Congress Still Faces Critical Votes
Republicans have maintained control of both houses and are now beginning to plan their agenda for the Lame Duck Session and next Congress. To avoid a government shutdown, lawmakers need to pass a continuing resolution or another type of spending bill by Dec. 9. The most likely outcome is a measure funding the government through late March or early May instead of through the fiscal year ending in October to allow the incoming Trump Administration a chance to press their priorities earlier than if they had to wait until the in their first year instead of waiting until the fall.
It appears likely that emergency funds will be tacked on to the spending bill to assist in the cleanup effort in the wake of Hurricane Matthew. This emergency funding could persuade the more conservative Members of Congress from Louisiana, Florida, Georgia and the Carolinas to cooperate, since many of their districts in these states were ravaged by flooding and high winds.
Vice President Biden has been lobbying Congress to pass the 21st Century Cures Act, as part of his“ Cancer Moonshot” initiative, and the House has now passed the legislation 392-26. While Senate Majority Leader Mitch McConnell has voiced his support, it faces significant opposition with Elizabeth Warren and Bernie Sanders. However, it is expected that the bill will generate enough Democrat support to get through the chamber.
Issues important to the apartment housing industry also remain in the mix. These potentially include the reauthorization of the EB-5 program,
We’ re not just multi-family, we’ re multi-faceted.
The broad depth of our capabilities has made Legacy Partners a proven leader in all aspects of multi-family real estate.
Legacy Partners has a 47-year track record of consistently out performing the competition:
• Acquisition & Development
• Investment Management
• Entitlement Assistance
• Construction Management
• Asset Management
Third Party Multi-Family Property Management Includes:
• New community lease-up
• Conventional stabilized
• Renovations & repositioning
• Senior communities
• Tax credit & affordable
• Receiverships & broken condominium projects
Contact us today to learn more about our experience and capabilities.
650 S. Cherry Street # 825 Denver, CO 80246
303-320-3500 • legacypartners. com
Baltimore | Chicago | Dallas | Denver | Greenville, SC | Inland Empire, CA | Los Angeles Minneapolis | Orange County, CA | Phoenix | Portland | San Diego | San Francisco | Seattle | St. Louis
34 | TRENDS • JANUARY 2017 www. aamdhq. org