DATELINE AUSTIN
January 14, 2005
page 2
TDI Commissioner
will step down.
Texas
Department of Insurance Commissioner Jose Montemayor has announced
that he will not seek re-appointment when his term ends February 1,
2005. Montemayor has worked for the Department since 1993 and has
been Commissioner since 1999. When questioned about his decision he stated, “It’s just time to move on.
I am incredibly proud of everybody that I've had to work with and
the things we've been able to accomplish." Montemayor has offered
to stay until Gov. Rick Perry appoints his replacement. Perry
praised him, saying the Legislature "relied on his advice and
counsel during a turbulent period of adjustment in the insurance
market."
Please note
that as of this writing the Commissioner has not rendered a decision
on any of the items considered at the 2004 Texas Title Insurance
Biennial Rule Hearing. TLTA will report any new developments
regarding the 2004 Hearing or appointment of a new Commissioner as
they become available.
PAC Board
nomination deadline: January 28th
As part of the restructuring of the Political Action Committee
(PAC), we will be increasing the number of Directors to include more
member representation. In order to successfully participate in the
political process, we need individuals who are committed to
preserving the title insurance industry and increasing the
visibility of the
TLTAPAC. This is your opportunity to join an elite group of
individuals who will be responsible for educating members on the
importance of investing in the PAC, fundraising, setting goals for
the future, building relationships with elected officials and
ultimately, deciding on who will be the recipients. If you are a
“true believer” in the long-term success of the title insurance
industry: ACT NOW! All TLTA
members are eligible, so please nominate yourself or encourage
others who you feel would be good candidates.
CLICK HERE TO PRINT THE NOMINATION FORM
PLEASE NOTE: THE
TLTAPAC NOMINATION PROCESS HAS BEEN CHANGED
Nomination forms will be reviewed by the current
TLTAPAC Board, chaired by Bert Massey, and a slate of nominees will be selected for the
available positions. Nominees will be notified in early February and
will be presented to the PAC membership for approval and induction
during the Annual
TLTAPAC
meeting in June.
Nominations will
not be accepted during the Annual
TLTAPAC
meeting as in past years.
Please contact
Mindy Carr
at 512.472.6593 or send an email to
mindy@tlta.com if you have any questions regarding the
TLTAPAC
restructuring process.
Represent TLTA
for a Day!
The
2005 TLTA Day at the Capitol is March 2, 2005 at the Radisson
Hotel & Suites in Austin. TLTA Day at the Capitol is an important
opportunity to increase our industry impact! Attendees will meet
face to face with their local representative or senator.
Don’t know
who represents you? Don’t know the issues affecting our industry?
Don’t worry! Legislative visits are scheduled by the TLTA staff and
our program includes a comprehensive overview of the issues and
helpful tips for visiting with your legislator. Don’t miss this
opportunity! Register today to receive the official Texas
Legislative Guide and earn an hour of Continuing Education credit
(Application pending).
Click here for details and Registration Form
Click here to register online
Lt. Governor
unveils new school finance plan
On
Wednesday, Jan. 12, Lt.
Governor David Dewhurst and all 31 state senators unveiled the basis
of a school finance plan that they say puts more money
into public schools but does not increase net taxes.
The Senate
plan calls for creating a statewide property tax of $1 per $100 of
evaluated property, which would replace the current $1.50 that is
collected locally. It also allows school districts to tax an
additional 15 cents per $100 for local programs. Total property-tax
reduction for homeowners and businesses would be $5.57 billion in
fiscal year 2006, according to the plan. Texas voters would
ultimately have to approve a statewide property tax. The plan also
revises the franchise tax which would be applied to all business
entities except sole proprietors and current loopholes would be
closed. Dewhurst believes that more than 50 percent of the state's
economy is services, which pay little or no business taxes. He also
stated that the
state's business tax should be broad-based, have a low rate and
treat all businesses equally. When the Senate plan was first
circulated prior to the start of the session, it included a 1.5%
real estate transfer fee. However, the plan unveiled yesterday does
not include this fee.
A broad-based
business tax would probably include all title companies. However, it
is important to remember that “the Senate plan” is not a bill but
rather a list of goals and all tax bills must originate in the
House. At press time, the Speaker had not revealed the House plan or
his position on the Lt. Governor’s concepts. You can be assured we
will continue to monitor and keep you informed as this proposal
moves through the process.
Issues for the 79th
Legislature
The
Texas Legislature will consider a variety of issues when it convenes
in regular session on January 11, 2005. Revising the school finance
system, as required by a state district court ruling, and granting
property-tax relief are expected to top the legislative agenda. In
addition, revising the state tax system, including business taxation
and the possible expansion of legalized gambling, reforming the
system of workers’ compensation insurance and reviewing the
distribution of water resources are among the issues that likely
will dominate the upcoming session. Also, 30 state agencies,
including those dealing with utility regulation, teacher
certification, and medical licensing, will be subject to review
under the Sunset process.
Click
here to
read the House Research Organization Report highlighting the many
issues to be debated this session.
Senate committee submits report on
electronic document fees
The
Senate Intergovernmental Relations Committee’s Interim Report on
Interim Charge #1 has been submitted to the Lt. Governor. The
committee was charged to (1)study and make recommendations on the need
for statutory language relating to fees charged for copies of
documents filed electronically or in paper format with a county
clerk (2) to examine all state and local policies relating to
document fees and analyze the impact of any recommended changes on
local and state revenues. The committee is recommending that all
county clerks attend a continuing education course on the
calculation of charges for fulfilling requests for public
information. During
the interim
the committee met in a public hearing and heard testimony from representatives in the title
insurance industry, County Clerks, and other interested groups. We
also participated in working group meetings to discuss in detail
the issues and concerns of the many proposals being considered. The TLTA Legislative Committee will make a recommendation to the Board
at the February meeting on our position.
If
you are interested in reading the recommendation in its entirety
please click here.
Test your
legislative lingo!
With the
beginning of the 79th Legislative Session, it is time to
brush up on your Legislative lexicon. Do you know the following
terms and how they apply to the legislative process?
Caption,
emergency clause, engrossed, enrolled, second reading, gallery,
intent calendar, local bill, markup, measure, override, omnibus
bill, legislative intent, point of order, rider and
sine die.
The Legislature,
like most organizations, has a specialized vocabulary which may
prove to be confusing to those unfamiliar with the legislative
process. The ability to understand and clearly communicate within
the halls of the Capitol, its chambers, and its committee rooms can
be crucial in determining a participant’s success in the legislative
realm. Click to here to download a copy of the
Senate
Research
Center’s Legislative Lexicon,
http://www.senate.state.tx.us/SRC/pdf/IB_Leg_LexiconOct2004.pdf
Congressman Neugebauer appointed to key committee
Congressman Randy Neugebauer (R-Lubbock) was selected to serve on
the House Financial Services Committee. This committee oversees
the entire financial services industry, including the securities,
insurance, banking, and housing industries. The Committee also
oversees the work of the HUD, Federal Reserve, the Treasury, the
SEC, and other financial services regulators. During the last
Congress, the committee heard testimony from representatives in the
title insurance industry on HUD’s RESPA Reform proposal. TLTA
congratulates Congressman Neugebauer and looks forward to working
with him on issues affecting the industry.
Texas Land Title Association
1717 W. 6th St. Suite 120
Austin, Texas 78703