Vol. 9 – March 29th
If your NCAA March Madness brackets looked anything like mine following the opening round, you know how off base the expert’s rankings can be. Undaunted by that track record, over the next several weeks we will start our own legislative version of March Madness as we look more closely at bills of big impact that might make it to the finals and become law.
HB 216 Ortega, Lina (D) (heard in PIFS 3/24)/SB 43 Zaffirini, Judith (D)(passed out of Natural Resource and Economic Development on 3/26) These companion bills relate to residential real estate purchases by means of a wrap mortgage loan. Almost identical language has been filed in each of the previous two sessions. Both times the senate bill passed and went on to the house where it died short of final voting. The purchaser may not even know the property is subject to a mortgage from a prior lender. Consumers have been harmed by no fault of their own when the seller fails to perform on their mortgage. This bill provides consumer protection in the form of required disclosures and requires any wrap lender to be licensed. It also authorizes investigative and enforcement authority to the Texas Department of Savings and Mortgage Lending.
Proposed Bills of Interest
To read the full text of any of bill go to Texas Legislature Online In the upper center section of the page, make sure the radial button is in on Bill Number and not Word/Phrase and type in your bill such as HB1 or SB1.
Bills on the Move
Floor Hearing
None at this time.
Reported Favorably (Committee Approved)
HB 738 Paul, Dennis(R)Relating to the residential building codes of municipalities. Reported favorably as substituted March 23rd, Land and Resource Management
HB 875 Lopez, Ray(D)Relating to the prohibition of housing discrimination on the basis of age or certain housing needs and to the enforcement of that prohibition. Sent to Calendars March 26th, left pending Business and Industry
HB 1258 Ashby, Trent (R) Relating to data matching with financial institutions to facilitate the collection of certain delinquent tax liabilities. Reported favorably as substituted March 24th, Pensions, Investments, and Financial Services.
SB 30 West, Royce(D) Relating to the removal of certain discriminatory restrictions and provisions from certain real property records. Placed on Intent Calendar March 23rd
SB 43 Zaffirini, Judith (D) Relating to residential mortgage loans, including the financing of residential real estate purchases by means of a wrap mortgage loan. (Companion bill HB 216, Refiled from 86R and 85R Sessions) Reported favorably March 26th from Natural Resources & Economic Development
Committee Hearings Held pending vote
HB 216 Ortega, Lina (D) Relating to residential mortgage loans, including the financing of residential real estate purchases by means of a wrap mortgage loan. (Companion bill SB 43, Refiled from 86R and 85R Sessions). Testimony taken March 24th, left pending. Pensions, Investments, and Financial Services.
HB 535 Shine, Hugh(R) Relating to the rate at which interest accrues in connection with the deferral or abatement of the collection of ad valorem taxes on the residence homestead of an individual who is elderly or disabled or a disabled veteran. Testimony taken March 8th, left pending. Ways and Means
HB 1059 Stephenson, Phil(R) Relating to a seller’s disclosure of the location of certain real property in a floodplain. Companions: SB 461 Kolkhorst, Lois(R) Testimony taken March 16th, left pending Business and Industry
HB 1110 Johnson, Julie(D) Relating to payment of the replacement cost of damaged property under a residential property insurance policy. Testimony taken March 23rd, left pending Insurance
HB 1129 Lopez, Ray(D) Relating to false, misleading, or deceptive advertising made in connection with a reverse mortgage loan agreement. Testimony taken March 17th, left pending Pensions, Investments, and Financial Services.
HB 1153 Vo, Hubert(D) Relating to the applicability of the Texas Fair Housing Act to certain sales and rentals. Testimony taken March 16th, left pending Business and Industry
HB 1433 Capriglione, Giovanni(R) Relating to the payment of insurance deductibles and release of insurance proceeds to contractors for property insurance claims. Testimony taken March 16th, left pending Insurance.
HB 2183 Moody, Joe(D) Relating to durable powers of attorney and the construction of certain powers conferred in those powers of attorney. Testimony taken March 24th, left pending Judiciary & Civil Jurisprudence
HB 2240 Smithee, John(R) Relating to the disbursement of funds from a trust fund account by a title insurance company, title insurance agent, or escrow officer. Testimony taken March 23rd, left pending Insurance
HB 2533 Darby, Drew(R) Relating to performance of an evaluation of real property for use by a financial institution. (Companion bill SB 996) Testimony taken March 24th, left pending Licensing & Administrative Procedures
HB 2591 Leach, Jeff(R) Relating to the removal of certain unconstitutional provisions from real property records. Testimony taken March 24th, left pending Judiciary and Civil Jurisprudence
Committee Hearings Scheduled for this week
HB 191 Bernal, Diego(D) Relating to the prohibition of housing discrimination on the basis of sexual orientation or gender identity or expression and to the enforcement of that prohibition. Hearing scheduled March 31st, Urban Affairs
HB 1129 Lopez, Ray(D) Relating to false, misleading, or deceptive advertising made in connection with a reverse mortgage loan agreement. Hearing scheduled March 31st, Pensions, Investments, and Financial Services.
HB 1977 Parker, Tan(R) Relating to the applicability of certain limitations on the capture and use of biometric identifiers to financial institutions. Hearing scheduled March 31st, Pensions, Investments, and Financial Services.
HB 2414 Davis, Yvonne(D) Relating to the requirement that a person present photo identification to file a document in the real property records of a county. Hearing scheduled April 1st, County Affairs
HB 3472 Deshotel, Joe(D) Relating to the investment and use of excess residential mortgage loan originator recovery fund fees; changing a fee (Companion bill SB 1791). Hearing scheduled March 31st, Pensions, Investments, and Financial Services.
HB 3510 Lambert, Stan(R) Relating to authorizing the Texas Finance Commission to ensure that employees of regulated entities may work from home under certain circumstances. Hearing scheduled March 31st, Pensions, Investments, and Financial Services.
HB 3617 Anchia, Raphael(D) Relating to certain qualifications and requirements of licensed mortgage companies and the regulation of the Department of Savings and Mortgage Lending. Hearing scheduled March 31st, Pensions, Investments, and Financial Services.
Previously Reported Bills
For a list of bills being tracked that have NOT been placed on a Committee Hearing calendar, please click here Previously Reported Bills. If these bills are eventually provided a hearing, they will be brought forward the Bills on the Move report.