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Texas Housing Headlines
Texas Voters Show Strong Support for Property Tax Cut Legislation
Legislation for property tax cuts, a raise for retired teachers and billions in investments in infrastructure, research, tech and energy were among the 13 propositions approved by Texas voters on November 7. Only one of the 14 proposed legislative changes to Texas law was voted down. The only failed legislation was proposition #13. It would have allowed judges to retire at a later age than currently mandated.
Proposition 4 got the most definitive support from Texas voters. 83% of voters were in favor of the legislation increasing the homestead exemption to $100,000. The legislation establishes a 20% cap on the taxable value of certain non-homestead properties. It also creates elected positions on local appraisal boards.
Besides the property tax relief, all of the other legislation supported by the Texas Association of Builders (TAB) passed. These include:
- Proposition 1 recognizing the right to engage in farming, ranching, timber production and wildfire management.
- Proposition 3 prohibiting a net worth or wealth tax on individuals or business entities from ever being imposed in the state of Texas.
- Proposition 6 creating the New Water Supply for Texas Fund, the statewide water public awareness account, and the Texas Water Fund to address critical water challenges across the state.
- Proposition 8 creating the Broadband Infrastructure Fund to facilitate affordable and universal access to high-speed internet statewide.
Next Up for Debate: Legislation Related to Sales of Land to Undocumented Purchasers
The Texas Legislators convened for a fourth special session of the 88th Legislature. Remaining agenda items on the agenda are related to education and border security legislation. The TAB will watchdog the latter discussion as the border security debate will address residential development. The Colony Ridge development in Liberty County, Texas northeast of Houston is under scrutiny. There, land is relatively cheap, and the developers offer private financing. The problem is, they even provide the financing for immigrants who lack Social Security numbers and credit scores. But as of now, there are no state or federal laws prohibiting the sale of land to people who are undocumented.
National Housing Headlines
Congress Supports Removal of Onerous Implementation Rules
The House approved an Energy and Water appropriations bill that would strip funding pertaining to onerous implementation rules. This addresses three top NAHB legislative priorities:
1) repealing the DOE’s authority to propose or enforce new complicated standards for distribution transformers.
2) withholding funding related to the original WOTUS rule to allow time for policy makers to achieve predictable guidelines.
and 3) the defunding of the section in the Inflation Reduction Act that coerces state and local governments to adopt overly restrictive and costly energy codes.
NAHB reports another legislative win in the Senate, with 26 senators calling on the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Agriculture (USDA) to abandon their proposal that would require new single- and multifamily homes that are insured or guaranteed by the agencies to be subject to unrealistic and overly burdensome energy efficiency standards.
NAHB Strongly Opposes the Seasonal Employer Protection Act of 2023
The H-2B temporary visa program is presently the only legal program of its kind available to construction industry employers. But a new bill would specifically target the housing industry by including language that prohibits multifamily developers from employing H-2B visa holders. It prohibits the H-28 temporary visa program unless a company is part of a collective bargaining agreement. At a time when the residential construction industry still faces a severe labor shortage, such legislation is harmful and unjustified, says NAHB.
2024 International Builders’ Show Returns to Las Vegas, Feb. 27-29
The National Association of Home Builders (NAHB) will hold the largest annual light construction trade show in the world at the Las Vegas Convention Center, Feb. 27-29, 2024. The 2024 NAHB International Builders’ Show® (IBS) will again co-locate with the National Kitchen & Bath Association’s (NKBA) Kitchen & Bath Industry Show® (KBIS) for the 11th Annual Design & Construction Week® (DCW).
The two shows will host 1,900 exhibiting brands spanning nearly 1.1 million net square feet of exhibit space, with 100,000+ expected attendees, making it the largest annual gathering of the residential design and construction industry in the world. This event is the spotlight for the industry’s cutting-edge products and trends. Attendees can choose from 100+ education sessions offered during the event, led by renowned experts on a wide range of industry topics.
