March 6, 2025
In This Issue:
- Texas Legislature 89th Session Update: Deed Fraud and Other Bills on TLTA's Affirmative Legislative Agenda Filed by Lawmakers
- NEW DEVELOPMENT: CTA / BOI Reporting Will Not Be Enforced Against Domestic Entities or U.S. Citizens
- Nominee for CFPB Director Advances to Senate Floor
- ICYMI: FBI Advisory Warns Of Dangerous “Ghost” Ransomware Attacks
Texas Legislature 89th Session Update: Deed Fraud and Other Bills on TLTA's Affirmative Legislative Agenda Filed by Lawmakers
TLTA | March 6, 2025
We are pleased to report that Sen. West filed SB 1734, which is the deed fraud self help bill we are advocating for this session (learn more about TLTA's affirmative legislative agenda below). Real-estate fraud, specifically deed fraud, is on the rise, and this legislation would create a relief mechanism for parties harmed by these crimes modeled on an existing fraudulent liens statute in the Government Code.
Also filed recently were SB 1810 (Sen. Schwertner) and HB 3502 (Rep. King), companion bills that would ensure timely and accurate data collection for title insurance ratemaking at TDI.
More here and below. We are working with the bill authors to include a July 15 due date for underwriters.
In last week's edition we announced the filing of SB 1547 by Sen. Zaffirini, and this week we are pleased to note that the House companion was filed - HB 3733 (Rep. Orr).
We are grateful to all of the lawmakers who filed these bills, and we salute their commitment to bolstering and protecting property rights and our state's real estate market, thank you!
TLTA’s affirmative legislative agenda for the 89th Session
TLTA's advocacy team is supporting passage of the following bills during the 89th Legislative Session. These statutory changes would improve real estate transactions statewide:
Deed Fraud Self Help - SB 1734 (West)
SB 1734 »
Review TLTA's one-pager on this legislation »
Statistical Report Deadlines - SB 1810 (Schwertner) and HB 3502 (Rep. King)
SB 1810 »
HB 3502 »
Review TLTA's one-pager on this legislation »
County Clerk Recording Fee - SB 1547 (Zaffirini) and HB 3733 (Orr)
SB 1547 »
HB 3733 »
Review TLTA’s one-pager on this legislation »
These affirmative legislative agenda items were approved by
TLTA's Board of Directors as recommended by our
Legislative Committee, which is chaired by Steve Streiff. These statutory changes would improve real estate transactions statewide.
ICYMI: Gov. Abbott's Emergency Items – Property Taxes
While committees are beginning to meet on bills and development of legislation continues capitol-wide, much of the legislature's energy and momentum is focused on development of the state budget and the
session’s emergency items, which Gov. Abbott laid out in his State of the State Address earlier this year, including property tax reduction.
Both chambers have produced property tax reduction proposals:
Senate’s Property Tax Reduction Bill(s)
Review SB 4 »
House’s Property Tax Reduction Bill(s)
Review HB 8 »
Review HB 9 »
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. The bill filing deadline is March 14.
Questions About TLTA's Legislative Process?
TLTA's Legislative Committee, Local Legislative Liaisons, our industry's grassroots network and the TLTA PAC Board of Governors are all part of TLTA's team of engaged legislative advocates.
Learn More About TLTA's Legislative Process and How You Can Get Involved »
Fewer than 88 days remain in the Texas Legislature’s 89th Session.
NEW DEVELOPMENT: CTA / BOI Reporting Will Not Be Enforced Against Domestic Entities or U.S. Citizens
Leslie S. Johnson, TLTA Board Member | March 6, 2025
Following our Dateline article last week advising you of the new, March 21 deadline to comply with reporting obligations of the Corporate Transparency Act (CTA), the status of CTA and entities’ obligations under it have continued to evolve.
On Thursday, February 27, FinCEN announced that it would not issue any fines or penalties or take any other enforcement action against any entities for failure to file or update beneficial ownership information (“BOI”) required under the CTA, effectively suspending enforcement of the CTA. However, on Sunday, March 2, the Treasury Department (of which FinCEN is a bureau) announced that not only would it not enforce any penalty or fine associated with the CTA under the March 21 deadline, it will not enforce any penalties or fines against U.S. citizens, domestic reporting companies, or their beneficial owners “after the forthcoming rules changes take effect[.]” The Department also stated that it would be issuing a proposed rulemaking “that will narrow the scope of the rule to foreign reporting companies only.”
The ultimate effect of this announcement is that the CTA will no longer be enforced against domestic entities or U.S. citizens. Further, federal regulations implementing the CTA will be revised to formally limit the application of the CTA to foreign entities. While the federal regulations do not affect the CTA itself, which is federal law, it is possible that Congress may move to repeal or modify the CTA in line with the revised regulations.
Review the Department's Announcement »
TLTA Editor's Note: Please be aware that the developments above do not impact FinCEN's new reporting requirements on all cash transactions that will be effective Dec. 1, 2025. More on that separate (but related) subject here.
Nominee for CFPB Director Advances to Senate Floor
Bloomberg Law | March 6, 2025
The Consumer Financial Protection Bureau is one step closer to having a Senate-confirmed director even as the agency is locked in litigation over moves meant to shut it down.
Read more »
ICYMI: FBI Advisory Warns Of Dangerous “Ghost” Ransomware Attacks
Forbes | Feb. 22, 2025
A joint security advisory published Feb. 19 by the FBI and the Cybersecurity and Infrastructure Security Agency, AA25-050A, has warned organizations around the world of a dangerous ransomware group known as Ghost, which is carrying out ongoing attacks targeting multiple industry sectors across more than 70 countries.
Read the advisory »
Read additional analysis and coverage from Forbes »