Update on School Finance Reform
HB 2 by
Rep. Kent Grusendorf
(R-Arlington)
relating to public education and HB 3 by Rep. Jim Keffer
(R-Eastland) relating to funding for property tax relief were voted out
of committee and are up for debate on the House floor this week. HB
3 will be better known as the Tax Bill of ’05 since it includes
changes to the current tax structure. HB 3 is intended to reduce
property taxes by one-third and does not generate new revenue for
schools. The bill was first heard on the House Floor Thursday, March
10th, but due to much opposition to the payroll tax and
other provisions, the Chairman drafted a revised substitute that
expands the corporate franchise tax. The proposed plan would expand
the tax to include partnerships; then give businesses the choice of
paying the current franchise tax or the payroll tax. (Such taxes
and numbers continue to change by the hour). TLTA has concerns
about
how the repeal of the franchise tax affects title companies’ current
exemption. You can be assured the TLTA Lobby Team is keeping a
very close eye on this bill and will work to keep our current tax
structure.
Update on Legislative Session
The
deadline for filing bills was Friday, March 11th. There
were 3,474 House Bills and 1,789 Senate Bills filed. Several bills that TLTA supports have already been heard in
committee: HB 999 by Rep. Bryan Hughes (R-Marshall)
relating to the duration of a lien for the enforcement of child
support arrearages and HB 1072 by Rep. Carter Casteel
(R-New Braunfels) relating to the requirements for recording
property owners’ association management certificates in the county
records. Both of these bills were left pending in committee. We have
also testified against some bills that are not favorable to the
industry. HB 1021 by Rep. Helen Giddings (D-De Soto) relating
to the right of first refusal in certain real estate transactions
and HB 89 by Rep. Eddie Rodriguez (D-Austin) relating to requiring a
person closing a real estate transaction to assist a purchaser or
owner in applying for a residence homestead tax exemption. Both of
these bills were left pending in committee. We are currently working
with the bill sponsors on some favorable amendments that would
lessen our concerns. SB 335 by Sen. Carona (R-Dallas)
relating to the Uniform Real Property Electronic Recording Act was
amended to reflect changes suggested by TLTA and was passed out of
the Senate Jurisprudence Committee as substituted. Senator Carona
also laid out SB 220 and SB 219 related to notaries
public. SB 220 relating to the maintenance of records by notaries
public in electronic format was voted favorably as amended. SB 220
would require applicants for the position of notary public to include a
statement regarding completion of an approved educational course in
the field and that the test has been administered and passed. Due to
a lot of opposition the bill was left pending. To view more bills on TLTA’s trackig list, please visit our website at
www.tlta.com
Privacy Issues
There are a number of bills we are tracking that relate to privacy issues.
Although identity theft has been a major concern for legislators
over the last several years, we have seen an increase in privacy
legislation in the last couple of weeks because of the security
breach at ChoicePoint. TLTA will monitor each of these bills closely
to make sure that we maintain our access to documents affecting real
property records. But we also must remain diligent about the privacy
of our customer’s personal information and make sure the industry
follows the FTC’s rules and regulations. Under GLB’s Safeguards
Rules, financial institutions must implement policies and procedures
to ensure the security of customer information. This is a good time
to revisit your company’s privacy policies! For more information on
FTC’s regulations, visit their website at
www.ftc.gov.
TLTA Members visit Congress on RESPA Reform
A group of TLTA members were in DC
last week visiting with the Texas Congressional Delegation on RESPA
Reform. On March 2, HUD Secretary
Alphonso Jackson testified in front of the Committee on
Financial Services. In his comments, he stated that he would
begin working with House and Senate Banking
Committee leaders to write a new proposal for RESPA reform. He told
Committee Chairman Michael Oxley
(R-OH) that he wanted to consult with Congress sometime in the next
60 days to determine the “best approach” for reforming RESPA, and to
gain input on the “various proposals” that HUD has reportedly been
analyzing. Chairman Oxley commented that he might have a better
chance with reforming RESPA if he sought congressional input rather
than just sending them a proposed rule. We will include an update of
the meetings in DC in the next Dateline Austin. Or if you want to
get the latest on this issue, please visit the TLTA website at
www.tlta.com.
TLTA Day At The Capitol
TLTA’s 2nd Day at the Capitol was a huge
success. Title industry members who participated met with more than
75 state legislators on March 2. The morning started with the lobby team and
Legislative Committee Chair Bruce Boyer providing updates on
legislative and industry issues and hot tips on communicating
effectively with the legislators. Our speaker, Rep. Byron Cook from
Corsicana, gave us an inside view of the legislative process and an
update of the Legislative Session. After lunch, the group headed to
the Capitol and spent the afternoon meeting with their respective
legislators. A huge thank you to all our participants, especially
those who took the initiative and sought out legislators other than
those they originally were scheduled to meet. Day at the Capitol
demonstrated to everyone involved the importance of communicating
title industry concerns directly to our elected officials. This
event gives TLTA and the industry more presence in the legislature
and a better position as we work to positively impact public policy
in the future.
Become a
TLTA
Lobbyist for a Day
For anyone who missed TLTA Day at
the Capitol but would like to come to
Austin and spend the day with the TLTA Lobby Team, here’s your
chance! You will see first hand how the legislative process works by
attending meetings with legislators, monitoring committee meetings and
observing Senate and House floor debates. If you are interested, please
contact Director of Government Affairs, Mindy Carr at
mindy@tlta.com or call 512.472.6593.
Kudos go to . . .
Mike Lang of
Kendall County Abstract.
He won the $150 gift certificate for responding to the TLTA member
benefits survey and he is returning it to us as a PAC donation to
purchase items for the silent auction.
Everyone who participated in TLTA
Day at the Capitol . . . and a special “shout out” to
Guy Robert Jackson
of Chambers County Abstract
for his amazing energy and determination to visit 17 offices in 4
hours. Kudos to
Dave Ginger
of Guardian Fidelity Title
and John DeLoach of Sierra Title
for their testimony on behalf of TLTA. Dave testified in
front the House Ways and Means Committee on Premium Taxes and John
testified in front of the Land and Resource Management Committee on HB 1072.
PAC
Planning Meeting
The
TLTAPAC has completed the first phase of our restructuring process.
The PAC Board voted to increase the number of board members from 9
to 48 members representing all areas of the state. Nominations
were reviewed and candidates were selected by the current PAC Board
members. The nominees will be presented for approval at the TLTA
Annual PAC breakfast held in conjunction with the 2005 Annual
Conference in Grapevine, TX. The Board also voted to change its
name to the “TLTAPAC Board of Trustees”.
Join us for the Annual PAC Breakfast as we approve the nominees
and hear our special legislative guest speaker.
Click here to
register for the Annual PAC Breakfast, June 10th at the
Gaylord Texan Resort in Grapevine.
Don't miss the PAC Golf Tournament - June 9 in Grapevine
The tournament will be
held at the world’s first NFL-themed golf course, the Cowboys Golf
Club, in Grapevine. The tournament will be played on Thursday, June
9, 2005, in conjunction with the TLTA Annual Conference. The morning
will begin with breakfast for all golfers in the Champions Dining
Room at the Cowboys Golf Club followed by an 8 a.m. shotgun start.
Your registration fee includes: Transportation (if needed) from the
Gaylord Texan to the course, Buffet Breakfast, Green Fee, Golf Cart,
Range Balls, all food and drink on the course, and the awards
luncheon. REGISTER NOW and
receive a $30 gift certificate off a future round of golf!
Click here to register to play in the PAC golf tournament.
Golf sponsorship
opportunities now available-click here for details!
Chapter 9 Basic Manual Update (Now Title XI): ORDER NOW!
Chapter 9 of the Insurance Code regarding Title Insurance was
rewritten by the Texas Legislature and adopted effective April 1,
2005. The section currently entitled Chapter 9, Section I in your
Basic Manual will now be Title XI, Section I. As an added bonus your
Title XI Basic Manual update includes a special supplement to assist
you in finding all the familiar articles of Chapter 9 in the new
Title XI. This essential tool will take the guess work out of
referencing items in the new Title XI. NOTE: You must purchase this
update for your Texas Title Insurance Basic Manual to be current.
Click here to order now!