Press Release: Rep. Jon Hardister Files Bill to Streamline Money Transmitter Laws

March 23, 2015

For Immediate Release

Raleigh, NC - Earlier this week Rep. Jon Hardister filed HB 289 - NC Money Transmitter Act - along with Rep. Steve Ross (R - Alamance) and Rep. Charles Jeter (R - Mecklenburg).

The bill would streamline state laws applied to money transmitter services, which haven't been updated since 2001. Since then, the money transmitter industry has evolved to include more online and virtual services. The result of this evolution has made it necessary to update and streamline laws related to the money transmitter industry.

"This bill would streamline state laws pertaining to the money transmitter industry," Hardister said. "Updating these laws, which hasn't been done since 2001, will provide money transmitter businesses with clear guidelines, making it easier for them to operate. It will also reduce regulatory burdens while providing basic rules to protect consumers."

The bill would convert annual licensing requirement for money transmitter businesses into a perpetual license, which would eliminate an unnecessary regulation. It would also establish that annual assessments must be covered by the money transmitter industries, and not by banks, which would provide the industry with predictable cost for budgeting.

"It is important that we update our laws for modern times and ensure that our regulatory burden is limited," Hardister said. "This bill will help to accomplish this goal."

Contact:
jonhardister@gmail.com

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Press Release: Rep. Jon Hardister Files Bill to Extend Legislative Terms to Four Years

March 12, 2015

For Immediate Release

Raleigh, NC - Earlier this week Rep. Jon Hardister (R-Guilford) filed HB 180 - Legislative 4-Year Terms - along with Rep. Harry Warren (R-Rowan), Rep. Chris Malone (R-Wake), and Rep. Rick Glazier (D-Cumberland).

The bill would offer an amendment to the NC Constitution that would extend legislative terms to four years and institute term limits for leadership positions. The Speaker of the House and the President Pro Tempore of the Senate could not serve in those positions for more than two consecutive regular sessions of the General Assembly. If the bill passes, it would be submitted to voters for approval as a constitutional amendment on the general election ballot in November 2016.

"Extending legislative terms to four years would allow legislators more time to focus on their service to the public," Hardister said. "As of now, members of the legislature spend nearly half of their time running for office. This requires us to spend a considerable amount of time raising campaign funds, which makes it difficult to focus on governing."

As for terms limits for leadership positions, Hardister said that it makes sense to limit power where it is most concentrated. "Most of the power in the legislature is vested in the Speaker of the House and the President Pro Tempore of the Senate. Therefore, it makes sense to place limits on how long an individual can serve in those positions."

Hardister also indicated that he is open to ideas on how to amend the bill as it moves through the legislative process.

"This is simply an idea on how to make our government better," Hardister said. "I am open to ideas on how to improve this legislation. I look forward to discussing it with constituents and also with fellow legislators."

Contact:

Rep. Jon Hardister

jonhardister@gmail.com

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Press Release: Rep. Jon Hardister Releases Statement on Governor McCrory's Proposed Budget

March 10, 2015

For Immediate Release

Raleigh, NC - Today Rep. Jon Hardister (R-Guilford) released the following statement regarding Governor Pat McCrory's budget proposal:

"I'm still looking over the details, but overall, I think the governor's budget looks good. It doesn't raise taxes, it keeps spending growth below inflation and population, and it provides an increase in base pay for teachers. Having said that, I still need to study the details and determine if we are able to make any improvements. Our focus should be on passing a budget that is fiscally responsible and funds the core services of government. We also need to be sure that we keep our debt low and maintain our Triple A bond rating. I look forward to working with my colleagues in the legislature to pass a budget that accomplishes these goals."

Contact:
Rep. Jon Hardister
jonhardister@gmail.com

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Press Release: Rep. Jon Hardister Files Bill to Reinstate Historic Preservation Tax Credits

March 7, 2015

For Immediate Release

Raleigh, NC - Earlier this week Rep. Jon Hardister filed HB 152 - New Historic Preservation Tax Credit - along with Rep. Steve Ross (R-Alamance), David Lewis (R-Harnett) and Rep. Rick Glazier (D-Cumberland).

The bill would reinstate portions of North Carolina's historic preservation tax credits, which expired last year. It would allow a 15 percent credit for qualifying projects under $10 million, and a 10 percent credit for projects between $10 million and $20 million. There would be an additional 5 percent credit for projects in counties that are categorized as poor.

"The purpose of this bill is to generate economic investment and create jobs while preserving our history in North Carolina," Hardister said. "As a fiscal conservative, I am not a fan of tax credits, but I believe this tax credit plays an important role in our economy. It is appropriate for the government to promote historical preservation, especially when it increases property value and encourages economic investment."

Governor Pat McCrory and Lt. Governor Dan Forest have also expressed support for reinstating the historic preservation tax credits. In his 2015 State of the State address, Governor McCrory said, "We have got to pass the historic preservation tax credits. Now is not the time to pull the plug on a strategy that has created new jobs and new investment, and revived small towns throughout North Carolina."

Hardister pointed out that President Ronald Reagan was a supporter of historical preservation tax credits. "President Reagan was a free market conservative, but he understood the virtue of allowing tax credits for historic preservation projects," Hardister said. "He supported these tax credits during his tenure as president."

Contact:
jonhardister@gmail.com

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Press Release: Rep. Jon Hardister Files Legislation to Streamline Oversight of Independent Mortgage Processors and Underwriters

March 5, 2015

For Immediate Release

Raleigh, NC - Earlier this week Rep. Jon Hardister (R-Guilford) filed HB 126 - Mortgage Origination Support Registrants - along with Rep. John Szoka (R-Cumberland) Rep. Graig Meyer (D-Orange) and Rep. Steve Ross (R-Alamance).

HB 126 would create a new registration system for mortgage processors and underwriters who work do contract work for lenders and brokers. The bill would ensure that North Carolina is in compliance with federal law, which requires state governments to provide basic oversight of independent mortgage underwriters and processors. Absent of this bill, independent mortgage processors and underwriters would be required to register as a mortgage broker or lender, even though they do not transact loans.

"This bill creates a simple oversight system for independent mortgage processors and underwriters,” Hardister said. “It is important that we provide basic oversight of our mortgage support system while ensuring that our laws are business-friendly. This bill would help to accomplish that goal."

The NC Commissioner of Banks office worked with Rep. Hardister in writing this legislation.

Contact:
Rep. Jon Hardister
jonhardister@gmail.com

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