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</o:shapelayout></xml><![endif]--></head><body bgcolor=white lang=EN-US link=blue vlink=purple style='word-wrap:break-word'><div class=WordSection1><p class=MsoNormal>Good Afternoon Directors – <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal>"Billionaire Tax Initiative"<o:p></o:p></p><p class=MsoNormal>Here are a couple of meetings with C.A.R. that you are welcome to attend. Both meetings are on June 23<sup>rd</sup>. I hope that you can make it. <o:p></o:p></p><p class=MsoNormal><o:p> </o:p></p><p class=MsoNormal style='margin-left:1.0in'>Meeting details and registration links are below:<br><br>Taxation and Government Finance Policy Committee<br>Tuesday, June 23<br>1:00 p.m.<br><a href="https://protect.checkpoint.com/v2/r01/___http:/subscribe.car.org/jdb/757daTWyD1-2ab9uwu6F--wjlnxywfyntsdcam9D9d86a7b6/b65dmdk2pF0HY-*~*gsXXP8-4fnQGDJIkBjJx6z10-qrgguRu7h___.YzJ1OmNhbGlmb3JuaWFhc3NvY2lhdGlvbm9mcmVhbHRvcnMyOmM6bzo5NjNhZWNhMGIzMTkzYjljYmViZmJjYWIzZDk3MWM2MTo3OmRjZTg6ZGMwNGY1ZDE3ZGNlODUxMjBjNzcxZTQ1ZjYwZmJlYjVlN2MwMjI2NTYwOTRkZTI5ZjE3YmFiMzgyM2JkYzU1NzpoOlQ6VA" title="Protected by Check Point: http://subscribe.car.org/...">Zoom Registration</a><br><br>Legislative Committee<br>Tuesday, June 23<br>3:00 p.m.<br><a href="https://protect.checkpoint.com/v2/r01/___http:/subscribe.car.org/jdb/757dAhYazry-vyBZJlQB--wjlnxywfyntsdcam9Dad86a7b6/b65dmdk2pF0HY-*~*gsXXP8-4fnQGDJIkBjJx6z10-qrgguRu7h___.YzJ1OmNhbGlmb3JuaWFhc3NvY2lhdGlvbm9mcmVhbHRvcnMyOmM6bzo5NjNhZWNhMGIzMTkzYjljYmViZmJjYWIzZDk3MWM2MTo3OmY4YWU6MDY5ZDAzMzQzZmI0YmRiNGJmMDA1MDEzYTMyNTk1NDNlMTJhMTlkYzZlYzgxYjNiY2FiMTdlMzBhNTU2MGQ2ZDpoOlQ6VA" title="Protected by Check Point: http://subscribe.car.org/...">Zoom Registration</a><o:p></o:p></p><p class=MsoNormal><span style='font-size:11.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt'>Kathy<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #E1E1E1 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'>From:</span></b><span style='font-size:11.0pt;font-family:"Calibri",sans-serif'> C.A.R. Governance <<a href="mailto:news@car.org">news@car.org</a>> <br><b>Sent:</b> Friday, June 5, 2026 4:06 PM<br><b>To:</b> Emily Horn <<a href="mailto:emilyh@car.org">emilyh@car.org</a>><br><b>Subject:</b> C.A.R. Director Update<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width=620 style='width:465.0pt;border-collapse:collapse'><tr><td style='padding:0in 0in 0in 0in'><div><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse'><tr><td style='background:white;padding:0in 0in 0in 0in'><div><p class=MsoNormal style='mso-line-height-alt:.75pt'><span style='font-size:1.0pt;font-family:"Helvetica",sans-serif;color:#FEFEFE'>Thank you for your attention to this important process, and for your continued leadership and engagement.<o:p></o:p></span></p></div></td></tr></table><p class=MsoNormal style='line-height:16.5pt;background:white'><span style='font-family:"Arial",sans-serif'><o:p> </o:p></span></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse;max-width:100%'><tr><td style='background:white;padding:15.0pt 0in 15.0pt 0in'><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse'><tr><td style='padding:0in 0in 0in 0in'><p class=MsoNormal align=center style='text-align:center;line-height:16.5pt'><span style='font-family:"Arial",sans-serif;color:blue'><img border=0 width="94%" id="_x0000_i1027" src="http://subscribe.car.org/l/85202/2026-06-04/97h1nb/85202/1780592858qDSHvj8V/Director_Update_header.jpg" alt="C.A.R. Communications. Leading the way."></span><span style='font-family:"Arial",sans-serif'><o:p></o:p></span></p></td></tr></table></div></td></tr></table></div><p class=MsoNormal style='line-height:16.5pt;background:white'><span style='font-family:"Arial",sans-serif'><o:p> </o:p></span></p><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 style='max-width:506.25pt;border-collapse:collapse'><tr><td style='background:white;padding:0in 15.0pt 15.0pt 15.0pt'><div align=center><table class=MsoNormalTable border=0 cellspacing=0 cellpadding=0 width="100%" style='width:100.0%;border-collapse:collapse'><tr><td style='padding:0in 0in 0in 0in'><p align=right style='margin-top:0in;text-align:right;line-height:16.5pt'><span style='font-size:9.5pt;font-family:"Arial",sans-serif'> <o:p></o:p></span></p><p class=MsoNormal style='line-height:16.5pt'><span style='font-family:"Arial",sans-serif'>Dear C.A.R. Leaders,<br><br>At the Spring Business Meetings, the Board of Directors approved a motion directing that the proposed "Billionaire Tax Initiative" receive policy committee review by the Taxation and Government Finance Policy Committee, and the Legislative Committee, as soon as practicable prior to the next Board of Directors meeting.<br><br>Both committee meetings will take place on Tuesday, June 23. The Taxation and Government Finance Policy Committee will meet at 1:00 p.m., followed by the Legislative Committee at 3:00 p.m.<br><br>Meeting details and registration links are below:<br><br>Taxation and Government Finance Policy Committee<br>Tuesday, June 23<br>1:00 p.m.<br><a href="https://protect.checkpoint.com/v2/r01/___http:/subscribe.car.org/jdb/757daTWyD1-2ab9uwu6F--wjlnxywfyntsdcam9D9d86a7b6/b65dmdk2pF0HY-*~*gsXXP8-4fnQGDJIkBjJx6z10-qrgguRu7h___.YzJ1OmNhbGlmb3JuaWFhc3NvY2lhdGlvbm9mcmVhbHRvcnMyOmM6bzo5NjNhZWNhMGIzMTkzYjljYmViZmJjYWIzZDk3MWM2MTo3OmRjZTg6ZGMwNGY1ZDE3ZGNlODUxMjBjNzcxZTQ1ZjYwZmJlYjVlN2MwMjI2NTYwOTRkZTI5ZjE3YmFiMzgyM2JkYzU1NzpoOlQ6VA" title="Protected by Check Point: http://subscribe.car.org/...">Zoom Registration</a><br><br>Legislative Committee<br>Tuesday, June 23<br>3:00 p.m.<br><a href="https://protect.checkpoint.com/v2/r01/___http:/subscribe.car.org/jdb/757dAhYazry-vyBZJlQB--wjlnxywfyntsdcam9Dad86a7b6/b65dmdk2pF0HY-*~*gsXXP8-4fnQGDJIkBjJx6z10-qrgguRu7h___.YzJ1OmNhbGlmb3JuaWFhc3NvY2lhdGlvbm9mcmVhbHRvcnMyOmM6bzo5NjNhZWNhMGIzMTkzYjljYmViZmJjYWIzZDk3MWM2MTo3OmY4YWU6MDY5ZDAzMzQzZmI0YmRiNGJmMDA1MDEzYTMyNTk1NDNlMTJhMTlkYzZlYzgxYjNiY2FiMTdlMzBhNTU2MGQ2ZDpoOlQ6VA" title="Protected by Check Point: http://subscribe.car.org/...">Zoom Registration</a><br><br>These committee meetings are being held between C.A.R.'s regularly scheduled Business Meetings and are open to all members and association staff. Committee members will be able to participate and vote during their respective committee meetings. Any action taken during these committee meetings will be referred to the C.A.R. Officers for further consideration.<br><br>Meeting materials for each committee, including an Issues Briefing Paper and other related materials, will be available two weeks prior to the scheduled meetings on the <a href="https://protect.checkpoint.com/v2/r01/___http:/subscribe.car.org/jdb/757drjjynslx-hfwrjjynslx-hzwwjsydcam9Dgd86a7b6/b65dmdk2pF0HY-*~*gsXXP8-4fnQGDJIkBjJx6z10-qrgguRu7h___.YzJ1OmNhbGlmb3JuaWFhc3NvY2lhdGlvbm9mcmVhbHRvcnMyOmM6bzo5NjNhZWNhMGIzMTkzYjljYmViZmJjYWIzZDk3MWM2MTo3OjgyZmU6N2Q2ZjU1ZDA4OWIyODNlNWYxOTA1ZDgzZDBkY2VmZDkxNDNmM2U0ZmJlMDVkOGUwYmUxMjU4MjlmNWQ2ZjIxNzpoOlQ6VA" title="Protected by Check Point: http://subscribe.car.org/...">Business Meeting Materials page.</a><br><br>A few important points for context: <o:p></o:p></span></p><ul type=disc><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:16.5pt;mso-list:l1 level1 lfo3'><span style='font-family:"Arial",sans-serif'>The proposed initiative may qualify for the November ballot once signatures are verified.<o:p></o:p></span></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:16.5pt;mso-list:l1 level1 lfo3'><span style='font-family:"Arial",sans-serif'>Ballot measures remain subject to negotiation before the June 25 deadline to withdraw measures from the ballot, so the landscape could still shift between now and then.<o:p></o:p></span></li><li class=MsoNormal style='mso-margin-top-alt:auto;mso-margin-bottom-alt:auto;line-height:16.5pt;mso-list:l1 level1 lfo3'><span style='font-family:"Arial",sans-serif'>Completing the committee review process on June 23 will allow C.A.R. to consider the initiative with ample time prior to the November election.<o:p></o:p></span></li></ul><p class=MsoNormal style='line-height:16.5pt'><span style='font-family:"Arial",sans-serif'>Thank you for your attention to this important process, and for your continued leadership and engagement.<br><br>The C.A.R. Governance Team<br>California Association of REALTORS® <br><a href="mailto:governance@car.org">governance@car.org</a> <br> <o:p></o:p></span></p></td></tr></table></div></td></tr></table></div><p class=MsoNormal align=center style='text-align:center;line-height:16.5pt;background:white'><span class=applefooter><span style='font-family:"Arial",sans-serif;color:#9C9C9C'>This message was sent to <a href="mailto:emilyh@car.org">emilyh@car.org</a>. 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