October 12, 2023

In This Issue:

  • Texas Legislature: “Property Ownership” Included in the Governor’s Call
  • ICYMI: U.S. Reps Introduce Bipartisan Bill Requiring Title Insurance on Loans Purchased by GSEs

Texas Legislature: “Property Ownership” Included in the Governor’s Call

TLTA | Oct. 11, 2023
The 3rd Called Session of the 88th Texas Legislature commenced Monday. The list of issues on the special session call can be found here.
 
Your TLTA Advocacy team is monitoring the following item on the call (this is the language from the Governor's proclamation):
 

Legislation concerning public safety, security, environmental quality, and
property ownership in areas like the Colony Ridge development in Liberty
County, Texas.

 
The debate over Colony Ridge could produce legislation impacting ownership of property by undocumented immigrants, as well as other changes that could impact our industry's operations and the real estate market. Here's some background on the Colony Ridge debate. Your TLTA Advocacy Team are monitoring this issue closely.
 
You may recall that during the regular legislative session earlier this year, our industry and our building trades partners engaged on a slew of bills related to foreign ownership of property in Texas. The Colony Ridge debate above could expand to encompass the broader scope of foreign ownership bills debated during the regular session. Or, foreign ownership could appear as a stand-alone issue in this or subsequent special sessions. The Governor can call as many special sessions as he sees fits, and he can expand a special session's call at any time.
 
Your TLTA advocacy team continues to monitor all developments at the Capitol in Austin and we'll keep you apprised as the special session progresses. 
 

ICYMI: U.S. Reps Introduce Bipartisan Bill Requiring Title Insurance on Loans Purchased by GSEs

ALTA | Oct. 3, 2023
U.S. Reps. Andrew Garbarino (R-N.Y.) and Vicente Gonzalez (D-Texas) introduced a bipartisan bill that requires title insurance issued by a state licensed and regulated title insurance company on all loans purchased by Fannie Mae and Freddie Mac.
 
The Protecting America’s Property Rights Act (HR. 5837) is a companion bill to S. 2687, introduced by Sen. John Kennedy (R-La.) and cosponsored by Sen. Katie Britt (R-Ala.).

More News and Info from ALTA »