Gus Ryer joined the Connecticut Association of REALTORS delegation during NAR's Annual Legislative Meetings and Hill Visits in Washington, DC.
The purpose of the trip is two-fold:
To catch up on the latest national trends in real estate
To visit with our elected officials and advocate for responsible, beneficial real estate legislation
Gus attended on behalf of the CT Chapter of CCIM and CTR. During the Hill visits, representatives from across the state met with Congresspeople and Senators to discuss many aspects of the real estate industry.
The focus of the conference is residential, but that doesn't mean commercial issues aren't discussed and supported by the National Association of REALTORS. In addition to advocating for flood insurance reform, the delegation also advocated for updating Fair Housing to include the LGBTQ community - CT has already enacted this legislation, and it is time for the rest of the nation to catch up. Finally, Gus personally spoke with Representative Jim Himes about Opportunity Zones, and discussed the program with the offices of Senators Blumenthal and Murphy.
Opportunity Zones are a brand-new economic development tool intended to spur investment and growth in low income communities. Depending on how long an investment is held, investors can see temporary deferrals on their capital gains taxes, step-ups in their basis, or even exclusion from taxation of capital gains. The program has a much wider reach than 1031 exchanges and can be used to lift up an entire community. If you'd like to learn more, reach out to Gus
Watch CTR's 5 in 5 video to learn more about their efforts in Washington (and to see a certain bearded Ryer interviewed):
Of course, while he was in DC Gus couldn't resist the siren song of soft-shelled crabs and a Sazerac. Join him next year and maybe he'll save you one!