THE INTERSTATE LAND SALES FULL DISCLOSURE ACT AMENDMENTS HEARINGS BEFORE THE SUBCOMMITTEE ON HOUSING AND COMMUNITY DEVELOPMENT OF THE COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS NINETY-FIFTH CONGRESS SECOND SESSION ON H.R. 11265 A BILL TO AMEND AND EXTEND CERTAIN FEDERAL LAWS H.R. 12574 A BILL TO REVISE THE INTERSTATE LAND SALES FULL DISCLOSURE ACT H.R. 3084 AN ACT TO AMEND AND EXTEND CERTAIN FEDERAL LAWS AUGUST 1, 2, AND 3, 1978 33-716 O Printed for the use of the Committee on Banking, Finance and Urban Affairs U.S. GOVERNMENT PRINTING OFFICE WASHINGTON: 1978 COMMITTEE ON BANKING, FINANCE AND URBAN AFFAIRS HENRY S. REUSS, Wisconsin, Chairman THOMAS L. ASHLEY, Ohio District of Columbia STEPHEN L. NEAL, North Carolina PAUL E. TSONGAS, Massachusetts NORMAN E. D'AMOURS, New Hampshire JOHN J. CAVANAUGH, Nebraska JIM MATTOX, Texas BRUCE F. VENTO, Minnesota J. WILLIAM STANTON, Ohio CHALMERS P. WYLIE, Ohio RICHARD KELLY, Florida NEWTON I. STEERS, JR., Maryland "Comparison of Proposed Statutory and Regulatory Changes to Inter- 42 Anaya, Hon. Toney, attorney general of the State of New Mexico, accom- panied by Hon. Joe Canepa, assistant attorney general.. Barnes, Hon. James I., III, deputy attorney general of the State of Nevada_ Belin, J. B., Jr., president, chairman of the board, American Land Develop- ment Association; accompanied by Gary A. Terry, executive vice president, William B. Ingersoll, general counsel, and George G. Potts, Halloran, Jean, on behalf of INFORM, a public interest group; accom- 76 Hempel, John E., assistant commissioner for policy and planning, depart- 585 Pfersich, Gordon, director, division of land sales and condominiums, de- Roberts, David D., vice chairman, Realtors Legislative_Committee, National Association of Realtors; accompanied by Albert E. Abrahams, Smith, Herman J., vice president, National Association of Home Builders; accompanied by Robert D. Bannister, senior staff vice president, and Gary Paul Kane, associate legislative counsel. Steinman, Edward D., Acting Assistant Director, Division of Marketing Abuses. Federal Trade Commission; accompanied by John M. Tifford, staff attorney in the land sales program. Worthy, Patricia, Administrator, Office of Interstate Land Sales Regis- tration, Department of Housing and Urban Development; accompanied 654 ADDITIONAL INformation Submitted for InCLUSION IN THE Record American Land Development Association, prepared statement on behalf by |