January 30, 2025
In This Issue:
- Legislative Update: New Rules in Texas House Change Committee Structure, Lt. Gov. Identifies Senate Priorities, State of the State This Sunday
- U.S. Supreme Court Removes One Hurdle to BOI Rule But Alternate Stay Remains and Reporting Continues To Be Voluntary
- Texas Comptroller: Unclaimed Property Holder Webinar for Financial Institutions
Legislative Update: New Rules in Texas House Change Committee Structure, Lt. Gov. Identifies Senate Priorities, State of the State This Sunday
TLTA | Jan. 29, 2025
Texas House Adopts New Rules, Changes Committee Structure
TLTA Member Takeaway: The committee that oversaw most Property Code bills has been eliminated, which means our Advocacy Team and volunteers will be working with a new committee this session. And, the empowerment of vice chairs in the new rules will create a new power structure in the Texas House that our industry will need to learn to navigate.
Following the election of the new Speaker of the Texas House Dustin Burrows, new House rules were adopted that will change House operations. The Business and Industry Committee was struck from the rules. Instead a new committee TRADE, WORKFORCE, AND ECONOMIC DEVELOPMENT was created and given a mix of responsibilities, among them real property transactions.
Review the new rules approved 116-23 in HR 4 »
Summary of Changes from House Parliamentarians »
Your TLTA Advocacy team is working closely with House members and leadership to stay ahead of these new changes. We expect to see committee assignment in the not too distant future, and our logistical considerations will further solidify when we know to which committees members have been assigned.
Lt. Gov. Identifies Texas Senate's Priorities and Announces Committee Assignments
Texas Senate's 89th Session priorities »
Texas Senate's 89th Session committee assignments »
Gov. Abbott Announced He Will Deliver His State of the State This Sunday
TLTA Member Takeaway: The state constitution limits which bills can be passed during the first 60 days of a legislative session. Emergency items announced by the Governor are among the bills lawmakers can address during that window of time, and we will be watching Sunday’s address for identification of any issues that may be relevant to our industry or the state’s real estate market (e.g., a property tax related issue).
Gov. Abbott is expected to name his emergency items during his State of the State address this Sunday.
How to watch the Governor's address in your local market »
Background on Texas Constitution's direction re: emergency items »
House Business and Industry Committee Published Interim Report That Includes Recommendation Related to Deed Fraud
TLTA Member Takeaway: The B&I committee’s recommendations to the Texas House on deed fraud could produce legislation this session.
Among the recommendations was a reform of the Texas Government Code § 51.903 to provide some relief for those who have fraudulent deeds filed on their property.
TLTA’s legislative agenda includes an item to do just that. We are currently working with Legislative Council to develop a bill based on Section 51.903 that will provide more due process and be a workable approach for a “self help” mechanism for victims of deed fraud.
There have already been a slew of deed fraud-related bills filed in the Texas Legislature, and we are working on a special Dateline report detailing those bills and our partners in the effort to help legislators develop good policy on this complex and troubling issue.
While House B&I will no longer be a functioning committee this session (see blurb about House committee changes above), the recommendations in the committee's
new interim report published this week could further inspire lawmakers to wade into this policy area.
Legislation TLTA's Advocacy Team Is Tracking
Bills related to adverse possession, land use, HOA's and more have been filed by lawmakers. Review the
89th Session Bills of Interest your TLTA Advocacy Team is tracking this session. Note that this list will grow as more bills are filed.
U.S. Supreme Court Removes One Hurdle to BOI Rule But Alternate Stay Remains and Reporting Continues To Be Voluntary
TLTA | Jan. 29, 2025
Coverage of the Supreme Court decision from Reuters »
FinCEN confirmation that reporting is voluntary (see Alert) »
Texas Comptroller: Unclaimed Property Holder Webinar for Financial Institutions
Texas Comptroller | Jan. 29, 2025
General Info From Texas Comptroller for Unclaimed Property Holders »
Register: Unclaimed Property Holder Webinars for Financial Institutions »