Summer has officially started in my home. This time of year brings the end of school and the beginning of sunshine, and longer days. The pace of life might change, but the real estate market in Texas sure has not! I hope you all get some respite from the intense market conditions. We all deserve a break, especially after the year we have had.
The Legislative session concluded last month. The main highlights for TALCB include:
- HB 2533 - Appraisers will be able to perform evaluations that are not in compliance with USPAP and requires the evaluations to contain a notice explaining that it is not in compliance with USPAP.
- HB 1939 - The bill sets a statute of limitation for suits arising out of appraisals. The statute of limitation for a lawsuit is now based on two years from when a person knew or should have known the basis for the suit or five years after the appraisal/appraisal review was completed.
- SB 713 - places the agency back on a 12-year sunset review cycle. As a result, our next sunset review is not until 2031.
- HB 139 - Grants agencies rule-making authority to establish what proof is needed to establish residency of an active member military spouse to receive reciprocity.
More on these bills and a complete overview of the legislative session will be provided by our staff later this summer. I want to say thank you to our team and all of our stakeholders who have helped us during this session. It was an unusual experience!
Comment Period Open
This is your reminder that the proposed rule comment period is open. Two rules are currently proposed for review, including changes to the AQB threshold for residential appraisals and qualifications for supervisory appraisers. I encourage each of you to review these rules and to take the time to make public comments using our all-new public comment tool.
We have a busy summer at the agency. Aside from processing all the changes from the legislative session, TALCB’s committees will be meeting throughout the summer months. Our next Board meeting is scheduled for August 20 in Austin. If you want to be a part of the process and attend any of our upcoming meetings, the complete list is posted on the agency calendar on our website.
I hope all of you had an excellent Memorial Day weekend last month, spending time with your families and celebrating. I know many of us have loved ones who lost their lives defending our country. May God bless those who paid the ultimate price for freedom.
Happy summer to each of you.