Relating to the regulation of property tax lenders and the confidentiality of certain information obtained or compiled by the consumer credit commissioner on examination of property tax lenders and certain other license holders or registrants.
Impact
If passed, HB 2908 would have a significant impact on state laws governing property tax lenders. It proposes that lenders must grant access to their business premises and relevant records during inspections, ensuring that the commissioner can adequately assess compliance with financial regulations. This change is intended to promote transparency and accountability within the property tax lending sector, addressing consumer concerns over practices that may exploit vulnerable homeowners.
Summary
House Bill 2908 focuses on the regulation of property tax lenders in Texas, specifically amending provisions in the Finance Code. The bill aims to enhance the oversight of property tax lenders by establishing clearer examination and investigation protocols. It includes provisions that allow the commissioner or the commissioner's representative to access the operational records of property tax lenders and outlines the specific responsibilities of these lenders during examinations.
Contention
Notable points of contention surrounding HB 2908 include the balance between regulatory oversight and the operational autonomy of property tax lenders. Proponents argue that stricter regulations are necessary to protect consumers from potential abuses in the lending process, such as those related to closing costs and fees. Conversely, opponents may raise concerns that excessive regulation could hinder the functions of lenders who play a critical role in helping property owners manage tax payments, potentially limiting access to necessary financial services.
Identical
Relating to examinations by the consumer credit commissioner with regard to the regulation of property tax lenders and certain other lenders and debt management counselors.
Relating to wrongful exclusion of handgun license holders from certain property owned by or leased to a governmental entity and to certain offenses relating to the carrying of handguns on that property.
Relating to the authorization, licensing, and regulation of casino gaming and sports wagering in this state, to the creation, powers, and duties of the Texas Gaming Commission, to the support of the horse racing industry and reform of horse racing and greyhound racing, and to other provisions related to gambling; imposing and authorizing administrative and civil penalties; imposing taxes; imposing and authorizing fees; requiring occupational licenses; creating criminal offenses.
Relating to the exemption from ad valorem taxation of certain assets used for agricultural production and to the authority of a county commissioners court to adopt an exemption from ad valorem taxation by each taxing unit that taxes the property of the portion of the appraised value of a person's property that is attributable to the installation in or on the property of certain water conservation systems.
Relating to the elimination of certain property taxes for school district maintenance and operations and the provision of public education funding by increasing the rates of certain state taxes.
Relating to the authority of a county commissioners court to adopt an exemption from ad valorem taxation by each taxing unit that taxes the property of the portion of the appraised value of a person's property that is attributable to the installation in or on the property of certain water conservation systems.