particularly those of the small real estate developers--as they are affected by the regulations imposed by HUD's Office of Interstate Land Sales Registration. Thank you for this opportunity to appear before you. We hope that our testimony will prove helpful to you and that the end result will be the introduction of a greater certainty and rationality in the federal interstate land sales registration process. Mr. Chariman, this concludes our prepared statement. We would be pleased to try to answer any questions the Committee may have. EXHIBIT A List of local (county and muncipal), state and federal governmental agencies with which most real estate developers must deal in the course of developing a project: County Commission City Council State Real Estate Commission (brokers' licensing) State Department of Parks and Recreation State Department of Transportation State and Local Health Department (food permits) State Alcholic Beverage Control Commission (beverage permits) Local and Regional Zoning Commission Local and State Departments of Inspection (building and related Local, State and Regional Planning Departments Local and State Tax Commissions State Department of Natural Resources State and Federal Departments of Labor State Consumer Affairs Office State Attorney General's Office Office of Interstate Land Sales Registration (HUD) Federal Trade Commission Securities and Exchange Commission Federal Power Commission Corps of Engineers (dredge and fill permits) Environmental Protection Agency Internal Revenue Service Occupational Safety and Health Administration permits) Federal Insurance Administration (HUD) (flood insurance program Federal Housing Adminstration (home mortgages) restrictions) Federal Reserve Board (land sales contract provisions and extension of credit) READ FULL TEXT OF QUESTIONS ON PAGE 3 TO PROPERLY INTERPRET CHART. Dsclm.--Disclaimer: KEY TO ABBREVIATIONS: C--Provisions apply to condominiums; Dis.--Discretionary; Fl--See footnote listed by state; L--Provisions apply to subdivided land; OILSR--Office of Interstate Land Sales Registration, same requirements as; OOS--Out-of-state; P/R--Federal Property Report; Prohb.--Prohibited; T--Provisions apply to time sharing. Copyright 1977 the Land Development Institute. Ltd EXHIBIT B READ FULL TEXT OF QUESTIONS ON PAGE 3 TO PROPERLY INTERPRET CHART. WI WY KEY TO ABBREVIATIONS: C--Provisions apply to condominiums; Dsclm.--Disclaimer; Dis.--Discretionary: --See footnote listed by state; L--Provisions apply to subdivided land; as; OOS--Out-of-state: P/R--Federal Property Report: apply to time sharing. 24-004 O-78-8 Copyright 1977. the Land Development Institute, LI READ FULL TEXT OF QUESTIONS ON PAGE 3 TO PROPERLY INTERPRET CHART. Question # 687 8 9 10 USA CALIFORNIA GEORGIA HAWAII ILLINOIS LOUISIANA MAINE California filings for situs subdivisions may be "passed through" to 1The legal status of time sharing units under the Georgia Securities Act is undetermined at this time; however, certain types of offerings may be required to register. Hawaii authorities have not enforced complaince with Sec. 484-9 H.R.S., Sec. 484-5 (a) (13) H.R.S. 3Currently, No. 1sec. 372A of the Illinois Land Sales Act has been interpreted (as of this writing) to exempt condominium and time sharing units which are standing and complete or as to which there is a legal obligation on the part of the seller to construct a building within two years from date of disposition. 1provision applicable only to offerings which are also subject to the market. 1The status of time sharing is not yet determined under the Maine Securities Act. * New laws or regulations governing land sales enacted during 1977. ** New laws or regulations for land sales under consideration in 1977. |