July 18, 2024
In This Issue:
- Texas Legislature: Interim Hearing on Foreign Ownership, Sunset Commission Reviewing TREC
- TDI Publishes Agent Experience Report 2022, Underwriter Report 2018-22
- ICYMI: TDI Announces Hearing on Title Insurance Basic Premium Rate Sept. 19
Texas Legislature: Interim Hearing on Foreign Ownership, Sunset Commission Reviewing TREC
TLTA | July 18, 2024
Texas House Select Committee on Securing Texas from Hostile Foreign Organizations will hold a hearing July 24 to discuss foreign ownership of property
As
previously reported in Dateline, the Texas Legislature is currently hosting interim hearings to consider interim charges issued by the Lieutenant Governor and Speaker of the House. The interim charge process is used to review implementation of laws passed last legislative session and produce new legislation to be considered in the upcoming session. Like the 88th Session last year, the upcoming 89th Session that commences January 2025 will likely include legislation related to foreign ownership of property.
On July 24, the House Select Committee on Securing Texas from Hostile Organizations
will host a hearing to discuss the following interim charge:
Evaluate the ways in which hostile foreign organizations acquire property, including real property, in Texas as well as the attendant risks. Recommend policy changes to mitigate the risks posed by ownership of Texas assets by hostile foreign organizations.
Your TLTA Advocacy team is engaged in the Texas Legislature's interim charge process and will be monitoring the hearing July 24.
We will continue to monitor all of the issues noted in this
Dateline report on interim charges and alert you if there are concerns or opportunities of which you should be aware.
If you identify interim charges that cause you concern or your have questions related to a specific charge, please send those to TLTA Vice President of Government Relations and Counsel, Aaron Day, thank you.
Sunset Advisory Commission reviewing Texas Real Estate Commission
The Texas Sunset Advisory Commission conducts reviews of state agencies scheduled to be abolished by the Texas Sunset Act. The Commission is comprised of legislators and members of the public.
The Texas Real Estate Commission is up for Sunset review this cycle and the commission has been gathering public comments.
You can learn more here. Your TLTA advocacy team and industry volunteers have been monitoring this process and will remain engaged as the review continues throughout the year.
If you have questions about the Sunset process or ideas we should consider sharing with legislators related to TREC, please send those to TLTA Vice President of Government Relations and Counsel,
Aaron Day, thank you.
TDI Publishes Agent Experience Report 2022, Underwriter Report 2018-22
TLTA | July 9, 2024
The Texas Department of Insurance published their
Title Insurance Agent Experience Report Compilation for 2022. Additionally, the
Title Underwriters Experience Report for 2018-2022 was published.
Texas Insurance Code §2703.153 requires each title insurance company and title insurance agent engaged in the business of title insurance in Texas to annually submit business data to TDI. TDI uses this data to set title insurance premium rates.
The new agent experience report was completed with data generated during calendar year 2022. The new underwriter experience report was completed with data generated during calendar years 2018-22.
Review Title Insurance Agent Experience Report Compilation for 2022 »
This Report Is Also Available as an Excel File »
Review Title Underwriters Experience Report for 2018-2022 »
This Report Is Also Available as an Excel File »
Looking for older experience reports? You can
find them here.
ICYMI: TDI Announces Hearing on Title Insurance Basic Premium Rate Sept. 19
TLTA | July 9, 2024
The Texas Department of Insurance (TDI) will hold a hearing to consider a change to the title insurance basic premium rates. The hearing will begin at 2 p.m. on September 19, 2024. You can
review TDI's hearing notice.
The Sept. 19 hearing is an expected part of a rate review process already underway. TLTA will continue preparing alongside our team of actuaries, economists, legal counsel, and volunteer leaders, and we will participate in the hearing on our industry's behalf. We will share more info with you as it is available. TLTA maintains a page with information related to this ongoing rate review process.
If you have questions, please send them to
Aaron Day or call Aaron at 512.810.8800, thank you.