January 3, 2024

In This Issue:

  • New Laws In Effect as of January 1
  • Legislative Update: John Whitmire Vacates Senate Seat to Serve at Houston's New Mayor; Sen. Zaffirini Become First Woman Dean of Texas Senate
  • U.S. Beneficial Ownership Information Registry Now Accepting Reports

New Laws In Effect as of January 1

Remote Ink Notarization and new HOA transparency rules among the changes that could impact you or your business
Texas Legislative Reference Library  | Dec. 29, 2023

A total of 31 bills passed by the 88th Texas Legislature went into effect January 1, 2024.

Most new laws come from the regular legislative session that ended on May 29, 2023. Governor Greg Abbott also called four special sessions to consider additional legislation, some of which will become law on January 1. We may see more bills passed if the lawmakers gather again before the 89th Legislature convenes in 2025.

Over 700 bills passed by the current legislature already went into effect on September 1, 2023. A handful of bills are scheduled to become law at a later date. 
 
Learn More »
 
TLTA Editor's Note: Several bills on the list above may be relevant to you and your business. For example, the Remote Ink Notary bill (SB 1780) that TLTA worked to pass this year changes the timeline for returning documents to a notary. Also on this list are new requirements meant to increase transparency of HOA operations (HB 614), and a bill related to Landman operations that we helped amend. If you have questions about any of the bills on this list, please send your questions to Aaron Day via [email protected] or 512.810.8800.
 

Legislative Update: John Whitmire Vacates Senate Seat to Serve at Houston's New Mayor; Sen. Zaffirini Become First Woman Dean of Texas Senate

TLTA | Jan. 3, 2024
Former state Sen. John Whitmire, who served in the Texas Senate for more than 40 years, vacated his seat Dec. 31 to serve as the new mayor of Houston. A special election will likely be held before the March primary so a successor can finish out his term. 
 
Sen. Zaffirini is now the longest serving member of the Texas Senate, and she has been named the first woman Dean of the Texas Senate. 
 
Read more on Dean Zaffirini in Laredo Morning Times »
More on Mayor Whitmire's transition in Houston Chronicle »
 

U.S. Beneficial Ownership Information Registry Now Accepting Reports

New federal legislation effective Jan. 1 requires some business entities operating in or around the title industry to report information about the entity's ownership to FinCEN. Are you exempt?
TLTA | Jan. 3, 2024
The 2021 Corporate Transparency Act (“CTA”) is new federal legislation that became effective January 1, 2024 and may require certain business entities operating in or around the title insurance industry to report personal information about their individual owners to the federal Financial Crimes Enforcement Network (“FinCEN”).
 
FinCEN is now accepting beneficial ownership information reports.
 
Unsure if you're exempt from submitting beneficial ownership reports? Start by reading this recent Dateline article by Leslie S. Johnson, TLTA Board Member and Judiciary Committee Chair.
 
Review FinCEN's Notice »
Read Recent Article: Corporate Transparency Act – Are You Exempt? »