Issue 89.2
Never spend your money before you have it. – Thomas Jefferson
Director of Regulatory Affairs
Tomorrow kicks off the 140-day long 89th Texas Legislative Session. The first order of business for House members will be to elect a new Speaker. Our previous memo covered the drama surrounding this Speaker vote. Until members make that selection, Texas Secretary of State Jane Nelson will serve as the presiding officer of the House.
Whoever is chosen to lead as Speaker will be grateful for Texas’ robust financial condition. This is the second session in a row the State Comptroller has estimated a double-digit billion-dollar State budget surplus over the next biennium. Additionally, the Texas Economic Stabilization Fund commonly referred to as the Rainy Day Fund has been projected to peak in 2025 at $27 billion in reserves – near its statutory limit and higher than at any time during its 35-year life. This type of fiscal strength is not the case for many other states. The nonprofit firm Truth in Accounting provides comprehensive analysis of the fiscal health of all fifty states. They report twenty-seven states did not have enough money to pay their bills at the end of fiscal year 2023.
Approving a two-year budget is the only action the legislature is required to accomplish. In a typical Texas Legislative Session upwards of 7,000 proposed bills are filed before the deadline. This session’s filing deadline is March 14th. Despite having 30 freshman members, between both chambers this session, early bill filing – at 2,425 bills – is about 50 percent higher than the same time last session which was heavier than prior sessions. Thankfully over 80 percent of proposed bills die somewhere along the way to becoming law.
Below is our initial listing of proposed bills of interest, consisting of 33 bills we are tracking. Each week we will not only identify additional bills of interest, but also provide you with a convenient way to see which bills are progressing toward becoming law and which ones are floundering.
Proposed Bills of Interest
To read the full text of any of these bills you can go to Texas Legislature Online. The designations you see for each bill represent HB – House Bill, SB – Senate Bill and HJR or SJR as House or Senate Joint Resolutions which relate to amendments to the Texas Constitution.
Bills on the Move
None until committee activity begins in March.
New Bills
HB 191 Spiller, David – Relating to the purchase of or acquisition of title to real property by certain foreign entities. (Companion HB 1566)
HB 243 Spiller, David – (HB 243 was previously filed in 88th Session as HB 3470 but both that bill and its companion SB1441 were left pending in Committee without a vote.) Relating to the authority of the attorney general to acquire by eminent domain certain real property owned by aliens or foreign entities.
HB 287 Harris Davila, Caroline – Relating to an annual study by the Texas A&M University Texas Real Estate Research Center of the purchase and sale of single-family homes by certain institutional buyers.
HB 402 Cain, Briscoe – Relating to the purchase of or acquisition of title to real property by certain aliens or foreign entities.
HB 414 Leo-Wilson, Terri – Relating to the unauthorized entry, occupancy, sale, rental, lease, advertisement for sale, rental, or lease, or conveyance of real property, including the removal of certain unauthorized occupants of a dwelling. (Companion HB 1076)
HB 518 Leo-Wilson, Terri – Relating to the ownership of agricultural land by nonresident aliens or foreign entities.
HB 576 Shaheen, Matt – (HB 576 was previously filed in 88th Session as HB 2565 was left pending in Committee without a vote. Its companion SB1568 passed both chambers but was vetoed by the Governor.) Relating to the persons authorized or appointed to exercise the power of sale under the terms of a contract lien on real property. (Companion SB 372)
HB 733 Bell, Cecil – Relating to verification of citizenship or legal residency for purposes of certain contracts for or concerning the purchase of residential real property located in platted subdivisions.
HB 957 Toth, Steve – (HB 957 was previously filed in 88th Session as HB 264 passing the House but was not assigned to a committee in the Senate.) Relating to requirements for the physical presence of a borrower for signing certain documents related to a home equity loan.
HB 963 Toth, Steve – (HB 963 was previously filed in 88th Session as HB 295 it was left pending in Committee without a vote. It was also filed in the 87th Session as HB 2284) Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.
HB 998 Toth, Steve – (HB 998 was previously filed in 88th Session as HB 4513 it was left pending in Committee without a vote.) Relating to the authority of an individual, before purchasing real property to be used as the individual’s residence homestead, to request from the chief appraiser.
HB 1043 Bhojani, Salman – Relating to a study by the General Land Office on the establishment and implementation by the General Land Office of a distributed ledger-based title registry pilot program.
HB 1076 Pierson, Katrina – Relating to the unauthorized entry, occupancy, sale, rental, lease, advertisement for sale, rental, or lease, or conveyance of real property, including the removal of certain unauthorized occupants of a dwelling. (Companions HB 414 and SB465)
HB 1104 Cole, Sheryl – (HB 1104 was previously filed in 88th Session as HB 1168 it was left pending in Committee without a vote.) Relating to a program to provide housing vouchers to emergency medical services personnel in certain counties.
HB 1129 Lopez, Janie – Relating to the eligibility of mental health professionals for the Homes for Texas Heroes home loan program.
HB 1566 Patterson, Jared – Relating to the purchase of or acquisition of title to real property by certain foreign entities. (Companion HB 191)
HJR 40 Swanson, Valoree – (HJR 40 was previously filed in 88th Session as HJR 124 it was left pending in Committee without a vote.) Proposing a constitutional amendment to remove the requirement that a home equity loan be closed only at the office of the lender, an attorney at law, or a title company.
HJR 71 Schofield, Mike – Proposing a constitutional amendment providing that a residence homestead is not subject to seizure or sale for delinquent ad valorem taxes.
HJR 75 Toth, Steve – Proposing a constitutional amendment authorizing the legislature to provide for exceptions to the requirement that a home equity loan be closed only at the office of the lender, an attorney at law, or a title company.
SB 74 Zaffirini, Judith – (SB 74 was previously filed in 88th Session as SB 2426 it was left pending in Committee without a vote.) Relating to an exemption from residential mortgage loan originator licensing requirements.
SB 103 Hall, Bob – Relating to prohibiting the purchase of or acquisition of title to real property by and contracts or other agreements with certain aliens or foreign entities.
SB 208 West, Royce – Relating to the establishment of the workforce housing capital investment fund program to fund the development of workforce housing in this state.
SB 234 Johnson, Nathan – Relating to the establishment of the workforce housing program by the Texas Department of Housing and Community Affairs.
SB 244 Flores, Pete – Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.
SB 307 Kolkhorst, Lois – Relating to the purchase of or acquisition of title to real property by certain aliens or foreign entities.
SB 372 Campbell, Donna – (SB372 was previously filed in 88th Session as SB 1568 it passed both chambers but was vetoed by the Governor.) Relating to the persons authorized or appointed to exercise the power of sale under the terms of a contract lien on real property. (Companion HB 576)
SB 443 Hinojosa, Chuy – Relating to single-family homes held by corporate owners for rental purposes.
SB 465 Campbell, Donna – Relating to the unauthorized entry, occupancy, sale, rental, lease, advertisement for sale, rental, or lease, or conveyance of real property, including the removal of certain unauthorized occupants. (Companion HB 1076)
SB 477 Middleton, Mayes – (SB477 was previously filed in 88th Session as SB1065 it was left pending in Committee without a vote.) Relating to the limitation on increases in the appraised value of a residence homestead for ad valorem tax purposes.
SB 534 Kolkhorst, Lois – Relating to the statutes of limitations for certain suits to recover real property held by another in adverse possession.
SB 583 West, Royce – Relating to lists of public real property suitable for use or to be developed for use as affordable housing by certain municipalities and counties.
SB 647 West, Royce – Relating to the filing or recording of documents or instruments conveying or purporting to convey an interest in real or personal property.
SB 648 West, Royce – Relating to recording requirements for certain instruments concerning real property.
Previously Reported Bills
None
If you have questions about these specific bills or the Texas legislative process in general, please reach out to Doug Foster or one of our firm’s attorneys or representatives at: https://www.mortgagelaw.com/our-team/