New Laws: Real Estate, Tax, Immigration, Business and more

Real Estate Law
 

Q&A on Real Estate Laws from the California Association of Realtors

Tax Law
 

Get your pen and pad of paper ready, 1099 paper that is. As part of the newly enacted Patient Protection and Affordable Care Act signed into law March 23, 2010, by President Obama, businesses will be required to report payments over $600 per year of goods or services made to anyone, including corporations, except entities exempt under 501 (a) charitys and non-profits.

Read more here.

This will also effect you if you receive payments through credit card terminal. The credit card processing companies will be sending a new 1099 called 1099-k which will report your income received. Read more about this proposed law here.
You should start getting 1099 information as soon as possible to help aleviate being over paperworked by emailing or sending the form W-9 to all of your vendors.

Smoke Detectors

California Senate Bill 183 was signed into law which requires the installation of Carbon Monoxide detectors in rental units, and dwellings that are being transferred (sold) by January 1, 2011. It also requires that Carbon Monoxide detectors are installed in ALL homes by January 1st, 2013.

Expect to see this new inspection item in your home inspection report. Home inspectors will be required to report on the presence or absence of a working Carbon Monoxide detector just like they report on Smoke Detectors, and water heater strapping.

Home Buyers and Sellers will also see this new requirement on Transfer Disclosure Statements. In addition to Smoke Alarms and strapped water heaters, sellers will be required to disclose the presence or absence of a working Carbon Monoxide detector starting January 1, 2011.
 

New Employment Laws Take Effect January 1, 2011

SB 1304 - Michelle Maykin Memorial Donation Protection Act

Currently, state employees who used up all their sick leave can take leaves of absence with pay for up to 30 days for the purpose of organ donation or a leave for up to five days for bone marrow donation. SB 1304, signed into law by the governor, requires private employers to allow employees to take similar paid leaves of absence for organ and bone marrow donation. Under the new law, employees returning from organ or bone marrow donation leave must be returned to the same position they held when the leave began, or to an equivalent position. The law also prohibits private employers from interfering with employees who take organ or bone marrow donation leaves. Employers may not retaliate against employees for taking such leave or for opposing an unlawful employment practice related to organ or bone marrow donation leave.

Employers can require that employees use up to five days of available sick or vacation leave for a bone marrow leave and up to two weeks of available sick or vacation leave for organ donation, unless doing so would violate a collective bargaining agreement. This leave does not run concurrently with leave taken pursuant to either the Family and Medical Leave Act (FMLA) or the California Family Rights Act (CFRA). SB 1304 also creates a private right of action for an aggrieved employee to seek enforcement of these provisions.

Read the full text of SB 1304 online.

Simkin & Associates
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