December 12, 2024
In This Issue:
- Legislative Update: Texas House Speaker Race, Senate Local Government Committee's Interim Report Includes Recommendations on Property Taxes, Housing Affordability, and Other Issues
- FinCEN: BOI Reporting Voluntary for Now Following Federal District Court Injunction
Legislative Update: Texas House Speaker Race, Senate Local Government Committee's Interim Report Includes Recommendations on Property Taxes, Housing Affordability, and Other Issues
TLTA | Dec. 11, 2024
As reported in last week's Dateline, there's significant activity at the Texas Capitol as lawmakers ramp up for the 89th Legislative Session, which will commence Jan. 14. Read last week's legislative update here.
Speaker's Race: Rep. David Cook Wins Endorsement of Republican Caucus, Calendars Chair Dustin Burrows Announces He Has 76 Votes Needed to Secure Speaker's Gavel
Speaker of the Texas House Dade Phelan announced that he will not seek the speaker's gavel again next session, and the House Republican Caucus gathered Saturday to identify their preferred candidate for Speaker next session.
Rep. David Cook won the caucus vote over House Calendars chair Dustin Burrows, 48 to 14 (Note: at least 76 votes are needed to win the speakership). Late Saturday, Chair Burrows released a list of 76 representatives (38 Rs and 38 Ds) supporting his bid to be Speaker.
While all potential Speaker candidates will continue campaigning until the session starts, we won't know the outcome of the race until the members vote on opening day.
Texas Senate Local Government Committee's Interim Report Includes Recommendations on Property Taxes, House Affordability, and More
Legislative committees have been meeting throughout the interim to study interim charges issued by the Lt. Gov. and Speaker of the Texas House. Committees are now publishing reports on their interim charges, and those reports will include recommendations that might become legislation filed during the upcoming legislative session.
Last week the Texas Senate Local Government Committee published their interim report, which includes recommendations related to property taxes and other issues that could impact our industry, including housing affordability and “squatters” recommendations, which can be found on pages 49 and 56 respectively.
Review the Committee's Recommendations on Property Taxes, Housing Affordability, and More »
FinCEN: BOI Reporting Voluntary for Now Following Federal District Court Injunction
U.S. Treasury | Dec. 10, 2024
In light of a recent federal court order, reporting companies are not currently required to file beneficial ownership information with FinCEN and are not subject to liability if they fail to do so while the order remains in force. However, reporting companies may continue to voluntarily submit beneficial ownership information reports.
Review FinCEN's Announcement (See "Alert" Near Top of Page) »