FACT members came out in support of our 2019 legislative agenda at the state capitol.
With the Texas Appraiser Licensing & Certification Board (TALCB) up for Sunset review and our Statute of Limitations legislation being prepped for a hearing, FACT members hit the office of key legislators to urge their support of our priority legislation.
FACT members met with every member of the House Committee on Licensing and Administrative Procedures and Senate State Affairs to discuss the importance of a well-functioning TALCB. The Sunset legislation (H.B. 1675 by Rep. Senfronia Thompson) will be heard THIS WEEK in the House committee, making our advocacy day very timely!
FACT members also met with members of the House Committee on Judiciary and Civil Jurisprudence and Senate Business & Commerce to discuss our need for a statute of limitations that reflects the specific needs of the appraising industry. USPAP regulations call for records retention for five years after completion of an appraisal, but certain boutique law firms made it a business model to sue appraisers, alleging defects in appraisals performed for mortgage transactions years after the fact. This legislation (H.B. 1116 by Rep. John Wray, and S.B. 939 by Sen. Brandon Creighton) is critical to the appraisal industry because it creates an outer limit for suits against appraisers.
FACT members were welcomed in each office and made the case for each bill. This legwork will be of tremendous benefit when these bills are heard in committee in the coming weeks.
If you have comments, questions or concerns about any of the legislation mentioned above, please send us an email at admin@supportfact.org.